Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

CG1 form for last year due to be submitted by October 31st (Capital Gains Tax)

Options
13»

Comments

  • Options
    #62
    Tim187
    Registered Users Posts: 3 ✭Tim187


    Thanks for the info, you're right. Got it sorted today TG.



  • Options
    #63
    Geuze
    Registered Users Posts: 13,081 ✭✭✭✭Geuze


    A person old shares in three companies in 2021. Made gains on one, made losses on two, overall small gain, less than 500 euro.

    They are a PAYE taxpayer, typically makes online Form 12 tax return each year on Revenue MyAccount to claim tax relief on medical expenses.

    I am trying to establish exactly how the CGT return is made, even though there isn't any CGT to pay.

    The return is due by 31-Oct 2022, okay.

    The form is CG1, okay.

    Must they register for CGT? Or can they simply post the completed CG1 form to their Revenue Office?



  • Options
    #64
    Geuze
    Registered Users Posts: 13,081 ✭✭✭✭Geuze


    A person old shares in three companies in 2021. Made gains on one, made losses on two, overall small gain, less than 500 euro.

    On the CG1 form, section 1, line (a), what is aggregate consideration in this case?

    Is is total net proceeds from the three sales, before the deduction of base cost?


    EDIT: thanks to the video at the start of this thread, I now know that aggregate consideration is total sales value in the relevant year.

    Thank you.



  • Options
    #65
    Markus Antonius
    Registered Users Posts: 2,119 ✭✭✭Markus Antonius


    I made a realized gain of €11,000 from cryptocurrency last year. I therefore had to pay about 3500 in CGT.

    I reinvested the money into crypto again (unfortunately) and this year realised a loss of €9000.

    So despite me taking on a huge amount of risk, and winning, the State/Revenue feel I should be 1500 down because of the crippling tax system in place. I have no chance to have enough of a gain in the next 4 years to offset the losses.

    Is this a normal situation to be in or is it just another sign of the socialist sh*thole we live in?



Advertisement