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CGT on foreign shares and return of funds to ireland

brosmi · 2010-11-21 23:25:44

I am trying to understand CGT payable when I 1) Transfer money to US share a/c 2) Buy shares 3) Sell shares 4) Return all money home to Ireland In the following calculation is there a capital gain on the final $12000 transferred home ?

21-11-2010 11:25pm

#1

brosmi

Registered Users, Registered Users 2 Posts: 19 ✭

Join Date: February 2007

Posts: 8

I am trying to understand CGT payable when I

1) Transfer money to US share a/c
2) Buy shares
3) Sell shares
4) Return all money home to Ireland

In the following calculation is there a capital gain on the final $12000 transferred home ?

0

Comments

#2 22-11-2010 10:13am

strmin

Registered Users, Registered Users 2 Posts: 315 ✭✭

Join Date: February 2008

Posts: 308

No, you pay tax only on gain. Example:

You buy 100 share of IBM for 100$. Total you pay 100x100/1.5=6666€
1.5 is exchange rate.

You sell for 125$. Let say dollar increased in value so exchange rate now is 1.4. Total you receive 125x100/1.4=8928€

Your gain 8928-6666=2262 <---- You pay tax on this gain. Deduct all expenses and exemption.

Everything you need is here:
http://www.revenue.ie/en/tax/cgt/cgt-faqs.html

0