1. tax_moron

    When/How/Should I notify Revenue of ETF purchases that occurred this year?

    I'm sorry if these questions keep cropping up, I can't find a straight answer to these. I've bought and sold Irish domiciled ETF positions this year 2020 @ no chargeable gain, but it's not clear if, and how I let Revenue know about these purchases? Is it now in the 2020 year, or 2021? I've...
  2. D

    TAX query - Resident and employed in ROI, self-employed UK

    Hi, I'm trying to get some information for my wife. We moved back to Ireland 2 years ago after being in London for over 10 years. We were both self-employed in the UK and carried out self assessment for each tax year. Now in the Republic of Ireland, we are both PAYE employed workers but my...
  3. G

    Is this PRSI exemption applicable to investments?

    Hi, I was reading about PRSI tax rates and found this article where it states that "If you earn less than €5,000 from self-employment in a year you are exempt from PRSI" Has anyone ever heard of this exemption? Would this be applicable to earnings from stock selling or fund investment profits...
  4. M

    Options and Taxation

    Hi All, I have recently been investigating options strategies, credit spreads other similar moves. However I cannot seem to get a clear answer as to the taxation of such strategies in Ireland. As it is not my primary source of income, I believe any monies received from buying/selling call and...
  5. cooleyirl

    Tax on Fundsmith / Smithson

    Hello, I am a long time reader of this site. As I cannot find the answer either on this site or elsewhere I decided to register to ask. Any help is appreciated. I invested some money this year in Fundsmith (The GBP UK domiciled version) and separately in the the Fundsmith SICAV (Euro...
  6. G

    Tax on Forex gains?

    Hi! I've been looking around, but couldn't find any articles or posts on this subject. Trading in Forex might generate some solid gains. Does anyone know how are these gains taxed? Does anyone have any documentation references from Revenue on the subject? Thanks in advance!
  7. J

    Tax on Shares & Dividends 2020

    Hello I'm an 18 year old, single, with no current taxable job ( I don't pay taxes or have any income ) and was wondering what the scéal is with tax on shares and dividends. Is there a standard rate for CGT, are there short and long term tax rates? I currently hold my shares and ETF with DEGIRO...
  8. G

    Why is ETF Income Tax 41% and standard Income Tax 40%?

    Hi there, ETF Income Tax is 41%. Why is this, when we only have two bands of Income Tax (20% and 40%)? Where does the extra 1% come from on the highest band to reach 41%? Thanks!
  9. G

    Should I fill in form 12 if I already fill a form 11?

    Hi there, Quick question: I already fill a form 11 annually, due until the 31st of October. Should I still fill a form 12 because of my investment returns or can I just use form 11? Thanks!
  10. S

    ETF’s. Can I do this?

    Hi, I have found the contributions on this site very helpful and appreciate everyone’s efforts. I am Keen to invest in ETF’s from Ireland. I have a basic understanding of the tax process in regards the the deemed disposal. My question however is as follows. 1. If I plan to ‘trickle’ money...
  11. P

    Can someone explain Interest and Penalty on wrongfully claimed tax credits

    Hi all, a few years back I read (incorrectly it seems) that we could finally claim tax relief on child maintenance. It made sense to me at the time since I had to earn up to €1000 Gross to pay €500 child maintenance out of my NET pay. So I went to Revenue and put in the amount I paid each year...
  12. E

    Revolut trading Shares & Tax?

    Hello, A few months ago I bought shares on Revolut [small numbers]. I am an ordinary private citizen and taxes in this area is new to me so trying to find out more. 1] Do sales of shares below the 1270 exemption still have to be reported? no gains were made. or do you only report after it...
  13. T

    House transfer to spouse (from Mother-in-law) & CAT

    Hello, I know this question has probably been asked before. (I did a search but couldn't find anything). My Mother-in-law is transferring her home to my wife and will this house will be in my wife's name only. It is then our intention for our family to live in this home as our PPR with the...
  14. I

    Tax on Rent (no mortgage)

    Morning All, At a high level, I have an investment property (no mortgage). I am looking at giving it to the council on a 10 year lease. Gross rent 12k per annum. Rough calc on tax is 50%. Net rent is €6k. Is there any options for reducing my tax liability? I can't obviously offset any...
  15. P

    How much after tax is a rental property worth to a landlord?

    Hi all, I'm trying to get my head around this and maybe a landlord can clarify if they are in a similar position. If I decide to buy a property (mortgaged or cash) and rent it out for €1400 per month, I know that I can claim depreciation on furniture and management fees, property...
  16. C

    Implications of "joint option to tax" sale of commercial building

    There’s a commercial building for sale on a main street in a town down the country that requires substantial refurbishment. It has retail units on the ground floor and some living space overhead. The sale is listed as a “joint option to tax” which means the purchaser will have to pay VAT. What...
  17. M

    Should I switch to 1 week/ 1 month basis?

    I am a permanent, full time employee and receive a monthly salary. I have been in my current employment for almost a year, and have been working from home since mid March last. We have been assured by our employers that we are still quite busy and should remain working full time for the time...
  18. D

    Tax Reduction Opportunities!

    We pay circa €50k in tax annually (Jointly assessed) - Both PAYE +rental property PAYE - 36k USC - 8k PRSI - 7k Are there any legal tax reduction schemes outside of the below obvious ones. - Pension contributions - Credits/ Health expenses Any advice and guidance appreciated. Thanks!
  19. D

    Short term rental property (trade) - Tax advice

    I have a short term rental property (with appropriate STL planning) - Bought in August 2019, renovated and First let in Dec 2019 (primarily Airbnb) I have read Revenue Part 04-01-20 on Short term letting...
  20. tax_moron

    Tax on Sale of Shares, and Dividend Income - Companies Outside of Ireland (not ETFs)

    This is not in relation to ETFs. As I understand it, profit from selling of shares, and dividend income from ETFs is taxed at 41%. I'm looking into tax advantages (if any) from moving away from ETFs and into manually trading individual companies. I'm trying to find information on the tax I am...