I didnt realise I could subtract transactional fees and stamp duty. Makes sense.
Be aware that in Ireland you can take E1,270 of gains tax free each year.
i.e. the first 1,270 of any capital gains realised each year is tax free.
It hasnt changed in many years so effectively ireland charges more and more in capital gains taxes, "viva la republic", ireland well on its way to a socialist republic
The fact it's €1270 should indicate how long it has been since it was changed. It used to be 1000 punts until we moved to the euro when it converted over to €1270. So, it hasn't changed in at least 15 years.It hasnt changed in many years so effectively ireland charges more and more in capital gains taxes, "viva la republic", ireland well on its way to a socialist republic
It's much worse than that. The exemption was increased from £500 to £2,000 35 years ago, in the Finance Act of 1982. Then it was reduced to £1,000 in 1992. And there it has stayed for 25 years, apart from there used to be an allowance for indexation ... but that also disappeared in 2002. Admittedly for a while in the 80s there were three rates of CGT -- 60%, 40% and 30% for assets held for under 1 year, 1 to 3 years, and over 3 years.The fact it's €1270 should indicate how long it has been since it was changed. It used to be 1000 punts until we moved to the euro when it converted over to €1270. So, it hasn't changed in at least 15 years.
It's much worse than that. The exemption was increased from £500 to £2,000 35 years ago, in the Finance Act of 1982. Then it was reduced to £1,000 in 1992. And there it has stayed for 25 years, apart from there used to be an allowance for indexation ... but that also disappeared in 2002. Admittedly for a while in the 80s there were three rates of CGT -- 60%, 40% and 30% for assets held for under 1 year, 1 to 3 years, and over 3 years.
Wow, that is much worse. €2540 back in 1982 is worth €6800 in today's money. Some difference.
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