Hello all, just a question on declaring ETF purchases.
I understand from other posts on here that people have received conflicting advice on whether Irish-domiciled ETF purchases need to be reported to revenue or not.
While I expect that getting in trouble for not doing it is unlikely, as long as you pay tax on any gain you make. But let's say I want to do so.
My situation was that during 2023 I repeatedly purchased, and sold ETF units (all in VWCE).
I made a total of 21 purchase transactions, where a cumulative total of 1519 units were purchased.
(But - I never held this many at any one point, I sold repeatedly so my total holdings went up and down to zero over the year numerous times, fortunately making a profit each time).
At the end of the year, I only owned 29 units of this ETF, made in 2 transactions in November and December.
So what would you declare to revenue in terms of material interest?
Thanks in advance for the informed and opinionated opinions!
I understand from other posts on here that people have received conflicting advice on whether Irish-domiciled ETF purchases need to be reported to revenue or not.
While I expect that getting in trouble for not doing it is unlikely, as long as you pay tax on any gain you make. But let's say I want to do so.
My situation was that during 2023 I repeatedly purchased, and sold ETF units (all in VWCE).
I made a total of 21 purchase transactions, where a cumulative total of 1519 units were purchased.
(But - I never held this many at any one point, I sold repeatedly so my total holdings went up and down to zero over the year numerous times, fortunately making a profit each time).
At the end of the year, I only owned 29 units of this ETF, made in 2 transactions in November and December.
So what would you declare to revenue in terms of material interest?
- 29 units across 2 transactions – as that's what my material interest was at year end?
- 1519 units across 21 transactions – as that's what I actually purchased, even though it misleadingly suggests I own a lot more than I really do.
- Nothing - just pay the exit tax on realised gains from the sales during the year and forget about declaring purchases
Thanks in advance for the informed and opinionated opinions!