What is Aggregate Consideration in following scenario

WannaGetFit

Hi,

Could someone tell me which figure in the following scenario is the “Aggregate Consideration” when filling out form 11.

Got Company Bonus of €2000. Instead of taking it, it was put into company shares by Mercer and kept there for 3 years, therefore no income tax needed to be paid on the €2000.

Sold shares for €5000 after the 3 years, so profit of €3000. Subtracting CGT allowance of €1270 leaves €1730 as chargeable gain, as far as I know, which means CGT due was 33% of €1730, which was €570.90.

So, again, when filling out form 11, which figure is the “Aggregate Consideration”

Thanks in advance.

c_keogh

Hi,

It sounds like you have participated in your employers Revenue "Approved Profit Share Scheme". If so, then you calculation above is correct. Assuming you have no other complications (i.e. other CGT sales or losses etc) you should put:

• €5,000 in "aggregate consideration"
• €3,000 in "chargeable gains in the year before s.604A relief"
• €3,000 in "chargeable Gain(s) net of allowable current year losses and S. 604A relief (excluding Foreign Life Policies)"
• €1,270 in "personal exemption"
• €1,730 in "net Chargeable Gain (excluding Foreign Life Policies)"
• €1,730 in "enter amount of net gain to be charged at 33%"

WannaGetFit

Great, thank you!!