I must say, the revenue information in this area seems to be so basic. Anyone trying to do anything other than buy and hold might as well forget about it. Anyway, does anyone have any idea how this situation might be treated
I am interested in purchasing an ETF, as opposed to a managed fund, however I have a question relating to Tax. My understanding is that the ETFs cannot be included as part of CGT tax exemption or any gains/losses in other assets taken into consideration.
My question therefore is
If I was to invest in the ISEQ ETF and it fell in value over the next 6 months by say 10%, then I decided to sell, accepting a 10% loss. If I subsequently bought again a month later, at an even lower price, say 20% off my initial price and saw a gain of 10% in 4 months at which point I sold again, would I still be taxed on the second profit as if it was pure profit or would the fact that 11 months on I am right back where I started mean that I had no tax liability?
I know it is a confusing one, so thanks for any insight you can give me.