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Potential CGT rate change

  • 01-02-2020 4:22pm
    #1
    Registered Users Posts: 1,271 ✭✭✭


    Heard Michael McGrath (I think) on rte radio 1 this afternoon mention a potential change in CGT rate 33 to 25%.

    I look at the UK rates, 20k a year into a Isa, 12k allowance a year before you have to pay CGT outside the Isa at 20% and 2k of dividends tax free I just think that's far too favourable.

    What I would really like to see, rather than a change to the rate of CGT tax is a lifting of the 1270 cgt allowance. Even up to 5k would be better.

    What do you think would be fair?


Comments

  • Registered Users Posts: 3,164 ✭✭✭sk8board


    eeepaulo wrote: »
    Heard Michael McGrath (I think) on rte radio 1 this afternoon mention a potential change in CGT rate 33 to 25%.

    I look at the UK rates, 20k a year into a Isa, 12k allowance a year before you have to pay CGT outside the Isa at 20% and 2k of dividends tax free I just think that's far too favourable.

    What I would really like to see, rather than a change to the rate of CGT tax is a lifting of the 1270 cgt allowance. Even up to 5k would be better.

    What do you think would be fair?

    Vast majority of wealth in Ireland that is taxable at CGT is investment property rather than stocks and shares.

    The €1.2k exemption is drop in the ocean stuff really, usually used to best advantage by small equity investors to sell some shares annually and pay little or no tax.
    dropping the rate back to 25% would be far more favourable, or even back to the 20% rate from 10 years ago. It would certainly stimulate the property market with more supply, which should hold or even drop prices, while incentivising the seller.


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