If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)

Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Hi there,
There is an issue with role permissions that is being worked on at the moment.
If you are having trouble with access or permissions on regional forums please post here to get access: https://www.boards.ie/discussion/2058365403/you-do-not-have-permission-for-that#latest

Tax on Investment Fund Profits (?)

homer911 · 2008-10-16 09:00:53

Just to point out to people that if you are fortunate enough to have made a profit on investment funds this year, the tax is 23%. This is going up to 28% in 2009 which might impact a decision to cash out before the end of the year

16-10-2008 9:00am

#1

homer911

Registered Users, Registered Users 2 Posts: 5,150 ✭✭✭

Join Date: September 2007

Posts: 4756

Just to point out to people that if you are fortunate enough to have made a profit on investment funds this year, the tax is 23%. This is going up to 28% in 2009 which might impact a decision to cash out before the end of the year

0

Comments

#2 16-10-2008 1:19pm

[Deleted User]
Posts: 281 ✭✭

Join Date: -

Posts: 281

You would want to have been very fortunate indeed.:)

The new rate of taxation is standard rate + 6% (26%) and you should also pay attention to any early exit penalties that may apply to the investment.

It has not escaped my attention that the 'new' rate of taxation takes effect from 01/01/2009 which is exactly 8 years since the Gross Roll Up method was introduced. Therefore, as the 8th anniversary is a 'deemed chargable event', any policies that were taken out in 2001 will will be automatically hit with the 'new' rate (again, assuming there is a gain) in 2009.

0