Username2012
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Investment trusts are taxed under CGT rather than Gross Roll Up (which applies to most ETFs). From that point of view they may be more tax efficient ,most obviously those with CGT losses forward on bank shares etc.
Hi Rory
Investment trusts i.e. companies quoted on the stock exchange are treated like any other shares. The dividend income is taxed under income tax and the capital gains are taxed under CGT.
I don't know why anyone has advised otherwise? If I set my losses in AIB plc against my gains in CRH plc, Revenue do not ask me about the underlying assets of these companies.
Boss I think that is true of a UK based ETF. My understanding is that the punter has to look after all the tax compliance with any foreign investment. It seems he is in a bit of a quandary, does he operate an exit tax regime or a cgt/income tax one. Personally, and I do own a UK based IT, I will assume normal cgt/income tax rules.OK, I had not appreciated that point.
From a practical point of view, do we have any Investment Trusts constituted in Ireland available to Irish resident investors? If we do, presumably they have checked with Revenue and are operating exit tax if that is what they have been told to do.
I can't see how the operator of a UK investment trust i.e. a quoted company could operate Irish exit tax? They have nothing to do with the buy and sell transaction.
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