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Short term government debt and tax

  • 04-09-2019 05:31PM
    #1
    Registered Users, Registered Users 2 Posts: 610 ✭✭✭


    Currently going over the income tax calculations for a relative for 2018. They invested in about €25k in short term government debt (not sure when). Their income statement shows that it was repaid in 2018.

    I'm just wondering how the capital and the interest are taxed?

    From what I can gather, they invested €25k, and got the €25k back, so I assume that is free from CGT. Need to check the interest, but would assume that the interest is subject to standard income tax rules.

    Could anybody confirm if my understanding is right, or did I make a mistake?


Comments

  • Registered Users, Registered Users 2 Posts: 2,003 ✭✭✭EverythingGood


    If it was via Natonal State Savings it could be tax free.


  • Registered Users, Registered Users 2 Posts: 610 ✭✭✭Clauric


    If it was via Natonal State Savings it could be tax free.

    How would I find that out?


  • Registered Users, Registered Users 2 Posts: 2,003 ✭✭✭EverythingGood


    Clauric wrote: »
    How would I find that out?

    If you have an account number call Stave Savings or go into a post office with whatever documents you have


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