Degiro - ETF's - Can losses from some ETF's be offset against gains in other ETF's for tax purposes?

gel

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Hi,

Using Degiro in the same year I have exited out of some ETF's this year enjoying some gains on some but suffering losses on others. Overall, the gains are greater than the losses.

Can these losses be offset against the gains for tax purposes?

e.g profit from 3 ETF's = €5,000
loss from 2 etf's= € 3,000
Ne loss to me =€2,000

Is my tax liability €5,000 or €2,000?
 
No, losses on ETFs can not be offset against anything - unless they are ETFs domiciled outside the EU
 
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Hi,

Using Degiro in the same year I have exited out of some ETF's this year enjoying some gains on some but suffering losses on others. Overall, the gains are greater than the losses.

Can these losses be offset against the gains for tax purposes?

e.g profit from 3 ETF's = €5,000
loss from 2 etf's= € 3,000
Ne loss to me =€2,000

Is my tax liability €5,000 or €2,000?

Your tax liability is 41% of €5,000, i.e. just over €2,000

That’s on the assumption that the ETFs are based in the EU.
 
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I was thinking that. Thanks to Gordon Gekko and jpd for the prompt responses. Much appreciated.
 
Hi,

Using Degiro in the same year I have exited out of some ETF's this year enjoying some gains on some but suffering losses on others. Overall, the gains are greater than the losses.

Can these losses be offset against the gains for tax purposes?

e.g profit from 3 ETF's = €5,000
loss from 2 etf's= € 3,000
Ne loss to me =€2,000

Is my tax liability €5,000 or €2,000?
Your tax liability is 41% of €5,000, i.e. just over €2,000

That’s on the assumption that the ETFs are based in the EU.

Looks like the only people "enjoying" your gains will be Revenue in this example. How absurdo_O
 
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well, he gets to keep € 3,000 or thereabouts
Does he/she?
Profit of 5k on one bunch of etf's, 3k loss on other bunch and then Revenue take another 2k tax. So, by my reckoning, nothing left for OP!
 
Does he/she?
Profit of 5k on one bunch of etf's, 3k loss on other bunch and then Revenue take another 2k tax. So, by my reckoning, nothing left for OP!
Yes you can argue that, it's a genuine point in fairness. I was listening to a podcast lately about the investment industry in this country lobbying the government to reduce the punishing 41% exit tax on etf gains to make them more attractive to investors.

I doubt they will listen ;-(

Ix
 
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