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Pay tax on share sale?

  • 27-08-2009 11:04am
    #1
    iceman777
    Registered Users, Registered Users 2 Posts: 134 ✭✭


    If a person buys €5,000 of BoI shares, keeps them for 4-5 months and then sells them for €10,000 after the broker's costs are taken out of the equation, does that person pay tax on the €5,000 profit made?

    If so, does the person do it by contacting the tax office directly and declaring this profit, or does the borker send out a form to be filled in?

    This would be the only sale the seller has made in a 12 month period if that is also taken into consideration.


Comments

  • #2
    MindHelp
    Closed Accounts Posts: 21 ✭MindHelp


    iceman777 wrote: »
    If a person buys €5,000 of BoI shares, keeps them for 4-5 months and then sells them for €10,000 after the broker's costs are taken out of the equation, does that person pay tax on the €5,000 profit made?

    Yes, minus the 1270 tax free limit.
    iceman777 wrote: »
    If so, does the person do it by contacting the tax office directly and declaring this profit, or does the borker send out a form to be filled in?

    This would be the only sale the seller has made in a 12 month period if that is also taken into consideration.

    CGT is a self assessment tax, you will have to declare it your yourself.


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