Query on tax.

john mayo 10

I work for a large global company that we purchase shares from annually. Im about to sell some soon. What is the threshold on these. I here that you can make a profit of 1270 euros anually on the original purchase price but anything over this and you are liable for tax. Also if i put these shares into a joint account with a stockbrockers for selling later does the profit before tax rise to 2540 euros?

thejourney

john mayo 10 wrote: »

I work for a large global company that we purchase shares from annually. Im about to sell some soon. What is the threshold on these. I here that you can make a profit of 1270 euros anually on the original purchase price but anything over this and you are liable for tax. Also if i put these shares into a joint account with a stockbrockers for selling later does the profit before tax rise to 2540 euros?

42% percent tax, 1270 you get to walk away with !

Shares are a scam. All investment are taxed when you go cash them in.

4% return turns into 2% after tax...Better ways to make money

CIARAN_BOYLE

thejourney wrote: »

42% percent tax, 1270 you get to walk away with !

Shares are a scam. All investment are taxed when you go cash them in.

4% return turns into 2% after tax...Better ways to make money

Thejourney please don't spew ignorant crap on other people's queries.

It's obvious that you don't have an understanding of the tax system so please don't spread stupid.

John when you put the shares in a jointeam account are you paying stamp duty to transfer the ownership of the shares. If you don't they are still your shares and your annual exemption from cgt (1270) applies before cgt at 33% applies.

thejourney

CIARAN_BOYLE wrote: »

Thejourney please don't spew ignorant crap on other people's queries.

It's obvious that you don't have an understanding of the tax system so please don't spread stupid.

John when you put the shares in a jointeam account are you paying stamp duty to transfer the ownership of the shares. If you don't they are still your shares and your annual exemption from cgt (1270) applies before cgt at 33% applies.

So your saying there is no tax selling shares and making a profit

CIARAN_BOYLE

thejourney wrote: »

So your saying there is no tax selling shares and making a profit

If your profit is below the annual exemption and the shares you are selling are actually shares then sure there's no tax arising on your profit.

thejourney

CIARAN_BOYLE wrote: »

If your profit is below the annual exemption and the shares you are selling are actually shares then sure there's no tax arising on your profit.

ok,thanks for the info. I am just learning but I have a good knowledge of tax and law.


Every year, say my shares make 1500 ROI. I pay no tax?

barneystinson

thejourney wrote: »

ok,thanks for the info. I am just learning but I have a good knowledge of tax and law.


Every year, say my shares make 1500 ROI. I pay no tax?

For someone who has a good knowledge of tax and law, it really doesn't come across in the stuff you post on here... This is about as basic as it gets with CGT.

If by "make 1,500" you mean a gain (net sales consideration after costs of sale minus purchase cost and costs of purchase) of 1,500, then you have a taxable gain of 230 (being your 1,500 gain minus 1,270). CGT @ 33% would be €77.

CIARAN_BOYLE

thejourney wrote: »

ok,thanks for the info. I am just learning but I have a good knowledge of tax and law.


Every year, say my shares make 1500 ROI. I pay no tax?

Obviously there's a dinference in our definitions of good knowledge. Do you mean good knowledge of some other country's tax code?

There's an annual exemption for cgt. I stated it above. It's below 1500.

thejourney

barneystinson wrote: »

For someone who has a good knowledge of tax and law, it really doesn't come across in the stuff you post on here... This is about as basic as it gets with CGT.

If by "make 1,500" you mean a gain (net sales consideration after costs of sale minus purchase cost and costs of purchase) of 1,500, then you have a taxable gain of 230 (being your 1,500 gain minus 1,270). CGT @ 33% would be €77.

Sorry, if it seems that way to you, but i've given advice to a number of people and they never had a problem.

Do you ever see the government reducing CGT in the future?

Example I buy 1000 shares at 18 euros each.

Cost of purchase each share 18
Shares increase to 18.60
Sell shares 18,600
Profit is 600
Exemption 1270
CGT tax = 0

No tax?

CIARAN_BOYLE

thejourney wrote: »

Sorry, if it seems that way to you, but 1) i've given advice to a number of people and they never had a problem.

2)Do you ever see the government reducing CGT in the future?

3)Example I buy 1000 shares at 18 euros each.

Cost of purchase each share 18
Shares increase to 18.60
Sell shares 18,600
Profit is 600
Exemption 1270
CGT tax = 0

No tax?

1)For your own sake don't. If you give false advice you can be held liable.

2)Sure maybe when we have finished paying off the bankers craziness. It was 20% in 2008.

3) your example is worked correctly

thejourney

CIARAN_BOYLE wrote: »

1)For your own sake don't. If you give false advice you can be held liable.

2)Sure maybe when we have finished paying off the bankers craziness. It was 20% in 2008.

3) your example is worked correctly

Ok; will stop now. I don't charge?

Thanks

CIARAN_BOYLE

thejourney wrote: »

Ok; will stop now. I don't charge?

Thanks

Doesn't matter if you charge or not.

thejourney

CIARAN_BOYLE wrote: »

Doesn't matter if you charge or not.

Wrong! the onus is on the person to act for for themselves.

If a sales man recommends you buy a TV, and you buy Tv. Can you sue Sales man for recommending Tv?

Need to work on your common sense law

CIARAN_BOYLE

thejourney wrote: »

Wrong! the onus is on the person to act for for themselves.

If a sales man recommends you buy a TV, and you buy Tv. Can you sue Sales man for recommending Tv?

Need to work on your common sense law

Why do you think boards.ie bans both legal advice and medical advice. Simply because the giver and the publisher of the advice can be liable.

It's been discussed to death on these forums before.

thejourney

CIARAN_BOYLE wrote: »

Why do you think boards.ie bans both legal advice and medical advice. Simply because the giver and the publisher of the advice can be liable.

It's been discussed to death on these forums before.

Ah you never said medical or legal advice

What about money advice bloomberg etc

Should everyone sue eddie hobbes ?


Come on now will ya;)

CIARAN_BOYLE

thejourney wrote: »

Ah you never said medical or legal advice

What about money advice bloomberg etc

Should everyone sue eddie hobbes ?


Come on now will ya;)

Tax advice is legal advice.

thejourney

CIARAN_BOYLE wrote: »

Tax advice is legal advice.

So Lay people can't talk about the law among themselves as that Illegal.


They need those people who charge 100 euros per hour to do such a magical thing as talk sense


Great country ehh!!:rolleyes:

Yourmama

There is a woman suing because she tripped in wicklow hills. Nothing will surprise me now.

relax carry on

thejourney wrote: »

So Lay people can't talk about the law among themselves as that Illegal.


They need those people who charge 100 euros per hour to do such a magical thing as talk sense


Great country ehh!!:rolleyes:

For the love of God stop please. This is painful. Unless you have some sort of qualification or work in tax, please stop before someone actually heeds your "advice"?