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TAX FREE INVESTMENT?

  • 23-01-2012 9:09pm
    #1
    johnvirgo
    Closed Accounts Posts: 3 ✭


    I have approximately €50k which I wish to invest tax free. I don't want to pay DIRT. I have been considering the following; 1. Prize bonds 2. Savings bonds 3. Savings Certificates 4. Off Shore bank a/c I am quiet new to investing. What are the benefits of these options? Are there other ways to invest you money tax free? Thanks


Comments

  • #2
    RATM
    Closed Accounts Posts: 3,591 ✭✭✭RATM


    I wouldn't be an expert in this area but I did hear recently that if you invest in art and if it is hung in a public gallery for X period of time then you are exempt from DIRT when selling on. Of course the work of art has to be good enough that a public gallery would want to hang it, an art auctioneer would be able to advise on this but my thoughts are that a €50k piece would be of interest to them, especially if it was by an artist they are already displaying.

    The neat part of the whole thing is that by loaning it out you also outsource your storage and fire insurance problems onto the gallery itself. Good pieces of Irish art seem to do well in capital appreciation over time too. Easter 1916 Rising memorabilia could also be an option, original Proclamations of the Republic are changing hands for €90k+ these days, I can remember a time back in the 1990's when they were selling for just IR£20k.

    Of course you should realise that a diverse portfolio is what you need more so than a single tax-free investments- never hold all your eggs in one basket.


  • #3
    shangri la
    Registered Users, Registered Users 2 Posts: 952 ✭✭✭shangri la


    I would rather pay dirt on a 4% account than no dirt on a 1% off shore account or have any exposure to irish debt. Basically your whole dirt viewpoint is warped unless you have a personal vendetta against the revenue.


  • #4
    Kristopherus
    Registered Users, Registered Users 2 Posts: 11,907 ✭✭✭✭Kristopherus


    shangri la wrote: »
    I would rather pay dirt on a 4% account than no dirt on a 1% off shore account or have any exposure to irish debt. Basically your whole dirt viewpoint is warped unless you have a personal vendetta against the revenue.

    All very well, but nobody likes having to pay 30% tax, and imho should make every effort to avoid paying it - legally, of course.


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