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Maximizing Your Unrealized Income - How?

  • 03-11-2016 3:04pm
    #1
    ifaour
    Registered Users, Registered Users 2 Posts: 31 ✭


    So I've been reading about investments and finished reading "The Millionaire Next Door". One thing that was noted is that to accumulate wealth, one should maximize their unrealized income, however, I cannot see how this is possible in Ireland other than in the form of Pension plans with deferred taxation.

    It seems that investment in stock market is aggressively taxed (even for long term investments).

    What are people thoughts on this? how are you maximizing your unrealized income?


Comments

  • #2
    Merowig
    Registered Users, Registered Users 2 Posts: 413 ✭✭Merowig


    1. Maximise your pension contributions

    2. You have to be a tax resident of Ireland to pay capital gains tax. If you plan or know that in 10 years you live for at least half a year in the US or Australia you can realise your profits at that time then...

    3. Take a look at http://www.revenue.ie/en/tax/it/leaflets/it55.html and http://www.bes.ie/ - though this is nothing for me...


  • #3
    ifaour
    Registered Users, Registered Users 2 Posts: 31 ✭ifaour


    Merowig wrote: »
    1. Maximise your pension contributions

    2. You have to be a tax resident of Ireland to pay capital gains tax. If you plan or know that in 10 years you live for at least half a year in the US or Australia you can realise your profits at that time then...

    3. Take a look at http://www.revenue.ie/en/tax/it/leaflets/it55.html and http://www.bes.ie/ - though this is nothing for me...

    Yeah... it seems that, unfortunately, Pension is the only "attractive" investment option in Ireland (other than building your own business). :(


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