CGT Allowance

Taylor365

Can anybody get information on when the allowance of €1270 was set?


Can't find any information online...

dickface

I couldn't find a definite answer but it was 1000 pound in 1997 http://www.irishstatutebook.ie/eli/1997/act/39/section/601/enacted/en/html#sec601 .
When the euro was adopted they probably put it to 1,270 and unchanged since then. Just a guess.

Taylor365

dickface wrote: »

I couldn't find a definite answer but it was 1000 pound in 1997 http://www.irishstatutebook.ie/eli/1997/act/39/section/601/enacted/en/html#sec601 .
When the euro was adopted they probably put it to 1,270 and unchanged since then. Just a guess.

Thanks!


So 21 years without a change.


I wonder how much more taxes are paid just through inflation...

RockDaddy

Is the €1270 an annual allowance per person or is it per transaction.

For example, I buy shares in two companies. Company A gives me €1000 profit in July and Company B gives me €1000 profit in August.

Do I have the €1270 exemption on both or do I have CGT to pay on the €730

Strettie11

No 1 exemption per tax year

Taylor365

RockDaddy wrote: »

Is the €1270 an annual allowance per person or is it per transaction.

For example, I buy shares in two companies. Company A gives me €1000 profit in July and Company B gives me €1000 profit in August.

Do I have the €1270 exemption on both or do I have CGT to pay on the €730

Hence the question above your post.


They still tax us as if it were 20 years ago. Any chance to screw the little guy

scheister

Taylor365 wrote: »

Hence the question above your post.


They still tax us as if it were 20 years ago. Any chance to screw the little guy

Not the hardest thing in the world to work around for one and not pay tax on your example sale above.

One of the cannon of taxation and i'm paraphrasing here you must take in more then it costs to administer the tax.I would also imagine this was brought in not as a tax thing but as an admin things hence no altering in Limit. Id think Revenue do not want people filing returns for the €200 i made in shares this year. Some where along the line £1,000 was seem as a figure where it was worth the admin time.

Taylor365

scheister wrote: »

Not the hardest thing in the world to work around for one and not pay tax on your example sale above.

One of the cannon of taxation and i'm paraphrasing here you must take in more then it costs to administer the tax.I would also imagine this was brought in not as a tax thing but as an admin things hence no altering in Limit. Id think Revenue do not want people filing returns for the €200 i made in shares this year. Some where along the line £1,000 was seem as a figure where it was worth the admin time.

Yes. Nearly every tax can be avoided with trivial amounts.


The admin up north must not get out of bed for less than £11,700 so.....

scheister

Taylor365 wrote: »

Yes. Nearly every tax can be avoided with trivial amounts.


The admin up north must not get out of bed for less than £11,700 so.....

We love our job more down south so willing to get out of bed for less