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Shares in Company Trust

Discussion in 'Accounting, Tax & Legal' started by GordonR, 7th May, 2008.

  1. GordonR

    GordonR New Member

    Joined:
    7th May, 2008
    Posts:
    2
    Location:
    WA
    The company I am employed by set up a trust for their employees (about 2 years ago). The company has subsequently been sold and I will receive the proceeds of the shares in the trust.

    Can anyone tell me what the basic tax implications are? Is this treated as a capital gain or assessable income?
     
  2. Rob G.

    Rob G. Well-Known Member

    Joined:
    6th Jun, 2007
    Posts:
    717
    Location:
    Melbourne, VIC
    The short answer is there is definitely some tax repercussions.

    Depends on the exact details of the arrangement - which you will need to talk to a Taxation Advisor about.

    Take the details with you as there is a lot to consider.

    Cheers,

    Rob
     
  3. GordonR

    GordonR New Member

    Joined:
    7th May, 2008
    Posts:
    2
    Location:
    WA
    Thanks Rob - I guess a lot depends upon the specifics of how the Trust was set up.

    Rgds
    Gordon