Paying tax on once off digital sale.

rb1993

Hi there,

I'm a student with no regular income currently.

I recently sold a piece of digital property for €6000 (CSGO skin if curious) and have no idea how to go about paying taxes on it.

Any info would be appreciated.

Thanks.

cuttingtimber22

Lots of information here:

https://www.revenue.ie/en/gains-gifts-and-inheritance/transfering-an-asset/index.aspx

First €1270 of a gain is not chargeable to capital gains tax (CGT). Anything after that is at 33% rate of CGT.

Male payment to Revenue by 15 December. File a CGT return (do it at same time as payment for convenience).

Geuze

Did you sell an asset?

Is an "CSGO skin" an asset?

Is it real property?

https://www.revenue.ie/en/gains-gifts-and-inheritance/transfering-an-asset/what-do-you-pay-cgt-on.aspx

What do you pay CGT on?

You must pay CGT on gains made from the sale, gift or exchange of an asset such as:

• land (including development land)
• buildings (houses, apartments, or commercial property)
• shares in companies (Irish-resident or non-resident)
• assets that have no physical form such as goodwill, patents and copyright
• currency (other than Irish currency)
• assets of a trade
• foreign life insurance policies and offshore funds
• capital payments (in certain situations).

You might also have to pay CGT on gains for other types of assets. Examples of these assets include antiques, paintings and jewellery.

Mrs OBumble

Did you buy that piece of property originally?

Or did you make it? If you made it, then it's probably profit, rather than capital gain, that needs to be considered.

rb1993

https://www.boards.ie/discussion/comment/119074201#Comment_119074201

I earned it in a video game ( I know it sounds ridiculous) Through opening a "loot box." I guess it would qualify as gambling income, if that's a thing

If you're a student with no regular income, then declaring this €6,000 income will likely not result in much or any tax liability as the income tax at 20% will be swallowed by your personal tax credit, and there's no USC chargeable on that amount of annual income. You'd pay 4% PRSI - so €240.

You would have to file a Form11 income tax return though as the €6k amount is over the threshold for declaring additional income on a PAYE tax return.