Pauliwalnuts
Registered User
- Messages
- 53
Ok here's my scenario
I bought 104 shares in a company in 1998 @ $9.055 so total cost to me was $941.72. They are now valued at $28.18 so $2930.72 in total.
Net Gain is $1989
I have been trying to figure out dollar exchange rates back in 1998 using the Central Bank website but the fact that we had a currency change is greatly screwing me up.
By my calculations I paid $941.72 on 30/06/1998 which equates to £674 punts which equates to €855.98.
If I am right those shares are now worth $2930.72 which is €2056.49 at todays exchange rates.
Using Ismael Whales Irish CGT calculator http://www.askaboutmoney.com/clubman/cgtcalc.htm
tells me that I don't owe any CGT on these shares due to the 1270 exemption.
Have I got all this right or are my calculations seriously flawed ??
Also if I seel further shares that I have bought during 1999 at the same time is the 1270 exemption all used up on the 1st batch ??
In other words is that tax exemption only allowed once during this calendar year & should I wait till next year to avoid paying any CGT again.
I know these questions are probably very basic but I just haven't got a clue when it comes to this stuff & if I can avoid paying tax legally then I will.
I bought 104 shares in a company in 1998 @ $9.055 so total cost to me was $941.72. They are now valued at $28.18 so $2930.72 in total.
Net Gain is $1989
I have been trying to figure out dollar exchange rates back in 1998 using the Central Bank website but the fact that we had a currency change is greatly screwing me up.
By my calculations I paid $941.72 on 30/06/1998 which equates to £674 punts which equates to €855.98.
If I am right those shares are now worth $2930.72 which is €2056.49 at todays exchange rates.
Using Ismael Whales Irish CGT calculator http://www.askaboutmoney.com/clubman/cgtcalc.htm
tells me that I don't owe any CGT on these shares due to the 1270 exemption.
Have I got all this right or are my calculations seriously flawed ??
Also if I seel further shares that I have bought during 1999 at the same time is the 1270 exemption all used up on the 1st batch ??
In other words is that tax exemption only allowed once during this calendar year & should I wait till next year to avoid paying any CGT again.
I know these questions are probably very basic but I just haven't got a clue when it comes to this stuff & if I can avoid paying tax legally then I will.