Is the 41% Exit Tax Soon to be Scrapped? Michael McGrath to Review

Well then why haven't they at least raised it with inflation like they do with most other things, it should be closer to 10K now and that still would be low enough, that would do more than anything to get the little guy to invest rather than leaving it sitting in bank accounts, 150 billion in banks earning nothing, I think only something like 20billiion invested by irish investors in ETFs yet irish domiciled Etfs are valued at over 1 trillion so irish investors are being kept out of all that by our silly taxation system
 
Gordon Gekko said:
It sounds like lunatic stuff…luring people from the lowest risk investment, i.e. cash, into early-stage venture capital type stuff, i.e. the highest risk stuff.

We should be incentivising people to diversify and to invest in things like ETFs.
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probably eamon Ryan has his hand in this wanting investor cash for his green agenda stuff. If they go with that it will be another telecom eireann fiasco with loads of novice investors turned off investing for life again because of government ignorance
 
Some sort of ISA style investment that only allows article 9 EU domiciled and EU focused funds. That could tick a lot of boxes.
 
Fortune said:
that only allows article 9 EU domiciled and EU focused funds. That could tick a lot of boxes.
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I'm not seeing any desire whatsover from 100% equity investors/savers to seek out Article 8 funds (never mind Article 9) - be they screened index trackers or managed equity funds - for their money.

It's Article 6 Index Trackers where folk are invested and I doubt they'll move existing monies.

Article 9 for new money? We might have a way to go on that one.


Gerard

www.bond.ie
 
My old employers pension scheme replaced their global equity tracker fund with an 'ethical' version. That would likely be the way most people become exposed to article 8.

My current employers scheme offers an article 9 fund. Looking at the most recent trustee report, it doesn't seem too popular with members.

It'll be interesting to see what happens with the new CSRD regulations coming in.
 

Tax Code

Tax Code Dáil Éireann Debate, Tuesday - 2 July 2024
www.oireachtas.ie

Per above PQ, the report was being finalised as of July 2.

Tax Code

Tax Code Dáil Éireann Debate, Monday - 9 September 2024
www.oireachtas.ie

Per above PQ, that report was sent to Minister for Finance in the Summer, so sometime July 2 to Sept 9.

The issues to be flagged in the report were well known:
My gut feeling is any measures they take will be seen as only benefiting the more well off and thus get criticised on Budget day.

Plus it will mean less tax revenue so less money on hand to buy the Election. That can be Budget 2026's problem if they get back in...
 
yellowmoose said:
I don't think everyone who invests in an ETF would necessarily be considered "the more well off"
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Not everyone, but, quite likely, many or even most.
I'd love the 41% exit tax and deemed disposal regime to be changed and the tax burden to be eased but I'm definitely better off than many and maybe than most.
 
Anecdotal, but I'm a not-wealthy investor who bought shares twenty years ago which have since ballooned. I will be considering a retirement move to Brazil, where the CGT allowance is not €1270 per year but €6000 per month, rather than lose nearly a third of my investment value if I were to remain in Ireland.
 
TheJackal said:
....My gut feeling is any measures they take will be seen as only benefiting the more well off and thus get criticised on Budget day...
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It's a perennial issue though, so when do you do it? My view is if there's any time to make changes to things like the 41% exit tax, it's during a giveaway budget. There will be so many other measures announced, the government can point any number of them, and claim there's something for everyone in the audience. This is a wasted opportunity, and we could all be waiting for the end of another 5 year term, and probably another report on the topic, before we see any changes.
 
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Hang on, theres 20 billion invested by Irish people in ETFs ?
That must be a typo... maybe 20 million.
 
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