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18:18
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Originally posted by supergwailoh:
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DM is an employee of Buddy and receives a salary. He pays tax like any salaried employee. So when he said he had a huge tax bill and needed to sell shares, can someone explain how that's possible? It's been covered ages ago but not clearly explained. Surely the only huge tax liability would have arisen when he sold the shares and had to pay capital gains tax on the $6millon that hit his bank account? at 50% tax reduction for having the shares for over 12 months, that means he walked away with $4.5million? This also conveniently happened about a month before he announced Telstra had fallen over and I believe just before the ASX enquiry into the fake $69m of contracted revenue claimed for Digicel, Rizon and Ingram Canada.
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These things vest and you have the pay tax on the value at years end when the share issues form part of your taxable income/ salary package
