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Etoro CFD questions

  • 17-04-2024 3:43am
    #1
    TabbyLongTails
    Registered Users, Registered Users 2 Posts: 60 ✭✭


    many many years ago I used etoro to invest in something, which under the hood was a CFD


    An accountant many years ago told me that CFDs are considered gambling as you don’t own the actual asset, and because of this it wouldn’t fall under CGT. However I’m now unsure if this is true.


    1. Is this true? (If not, was it ever true years ago???)

    2. Does it have any impact in regards to tax if you used leverage? Eg x2 leverage



Comments

  • #2
    TabbyLongTails
    Registered Users, Registered Users 2 Posts: 60 ✭✭TabbyLongTails


    slight bump



  • #3
    the O Reilly connection
    Registered Users Posts: 160 ✭✭the O Reilly connection


    I don't think it's true. You are liable to CGT on any income from etoro.



  • #4
    taratee
    Registered Users, Registered Users 2 Posts: 325 ✭✭taratee


    You are going to have to pay CGT on CFDs. If you spread betting you will not have to pay tax.

    Am Yisrael Chai



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