8 year deemed disposal rules & becoming tax resident in Ireland

Horatio

Frequent Poster
Messages
228
Hi Folks,
I have a good grasp of the 8 year deemed disposal concept however I am trying to understand & or find a related rule.
As I understand it if I sell my assets which I know are subject to the 8 year deemed disposal rules before I become tax resident in Ireland I need to hold the proceeds of those (rebasing) sales out of the market for a fixed times before re-entering the market in order to reset the 8 year clock to zero.

Can anyone direct me to the rule regarding how long I need to stay out of the market? I suspect it should be one day at most but some tax knowledgeable folks are saying no it is longer but they haven't specified how long or where to read the rule.

Thanks all.
 

Horatio

Frequent Poster
Messages
228
I'm certain someone on here knows the answer to this but I may have posted at an off peak time.

Again folks appreciate your collective knowledge.
 

dublin67

Frequent Poster
Messages
237
The eight year deemed disposal rules only apply to offshore funds. This is a tax definition and not any common sense definition. If you aren't holding offshore funds, as defined, then the eight year rule is irrelevant to you.

However if you wish to rebase your assets you need to pay attention to the bed & breakfast rules which require a four week break between sale and purchase again. I'm not aware if these B&B rules apply to holdings in offshore funds.

Here is a link to the rules relating to bed and breakfast and you can use this as a starting point:

 

Horatio

Frequent Poster
Messages
228
Hey thanks Dublin67.

I am indeed holding offshore funds. I hadn't ever heard of the B&B rules, thanks I'll take a look at that...
 
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