given a divident to buy shares where i work

by randy milko
(kenora ontario)

I was given a dividend to buy shares in the company where I work should I be paying taxes on it....I do not receive any money

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Mar 05, 2019
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starstarstarstarstar 		Tax on dividends
by: Mike

Hey Randy,

Tax on dividends depends on your personal situation and whether you hold the shares in a tax sheltered account. Unless you hold the shares in a tax sheltered account then usually dividends become part of your taxable income and would be liable for dividend taxes. You say you haven't received any money - maybe you received extra shares? Again, this would normally be taxable as well if it was held in a taxable account. It sounds like you need to speak to a financial advisor and declare the full story to him or her so you can determine how much tax you should be paying here.

Mike

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