* Oxygen's Charge: Oxygen typically has a charge of -2.
* Balancing Charges: In Fe₂O₃, there are three oxygen atoms, giving a total negative charge of -6. To balance this, the two iron atoms must have a total positive charge of +6.
* Individual Iron Charge: Since there are two iron atoms, each iron atom must have a charge of +3.
Therefore, the charge on the iron ion in Fe₂O₃ is +3.