Share Transaction Charges , allowable expense against CGT?

[Craig_David]

Hi,
When calculating one's CGT Gain/Loss, are broker transaction charges an allowable expense to offset?
I did take a look on the Revenue site but couldn't find anything regarding this particular point..
Thanks

 

[jpd]

What do you mean by broker transaction charges?

Please give some more detail of the charges in question

 

[Protocol]

Purchase and sale commission fees = yes.

 

[jpd]

Yes, they are allowed when calculating your gain or loss

You should check theRevenue.ie site - it has all the information you need to calculate cgt

How to calculate CGT

This page explains how Capital Gains Tax is calculated

www.revenue.ie

 

[MrEarl]

Hello,

Out of intetest, what about an annual account fee, which Goodbody and Davy charge, for example?

Suffice to say, you can't have an account to trade in shares, unless you pay the fee, so I'd expect this charge to be allowed.

 

[T McGibney]

Hello,

Out of intetest, what about an annual account fee, which Goodbody and Davy charge, for example?

Suffice to say, you can't have an account to trade in shares, unless you pay the fee, so I'd expect this charge to be allowed.

Purchase and sale commission fees = yes.

Otherwise, no

 

[Protocol]

I doubt it.

An annual fee is like a charge to hold an asset.

It's fees/charges associated with the purchase and/or disposal of an asset that are tax-allowable.

 

[MrEarl]

It's fees/charges associated with the purchase and/or disposal of an asset that are tax-allowable.

But that's the point, you need a Stockbroker account, otherwise you can't buy or sell shares