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Tax and poker?

  • 13-09-2005 12:44am
    #1
    Hurleysluck
    Closed Accounts Posts: 1 ✭


    Online poker winnings has been my sole income for awhile now. Just wondering whats the story is with tax in ireland for poker winnings?


Comments

  • #2
    Dub13
    Moderators, Recreation & Hobbies Moderators Posts: 21,254 Mod ✭✭✭✭Dub13


    No gambling income is taxable in Ireland,a few good threads on this unfortunately the search faculty is down


  • #3
    karlh
    Registered Users, Registered Users 2 Posts: 2,835 ✭✭✭karlh


    Just wondering whats the story is with all these new accounts. Is this one elaborate troll or what?


  • #4
    mcaul
    Closed Accounts Posts: 1,493 ✭✭✭mcaul


    Exemptions and Reliefs

    Various exemptions and reliefs from Capital Gains Tax are provided, the most important being the following:


    The first €1,270 of net gains by an individual in a year of assessment is exempt (€950 for short tax "year" 6 April 2001 to 31 December 2001). In the case of a married couple this exemption is available to each spouse but is not transferable.

    Gains realised on the following are not chargeable gains:
    Irish government securities, including land bonds, prize bonds, savings certificates and bonuses payable under the National Instalment Savings Scheme;
    securities of local authorities, certain State-sponsored bodies and the European Union;
    futures contracts based on government and other securities that are not chargeable assets for the purposes of Capital Gains Tax;
    life assurance policies and contracts for deferred annuities, unless purchased from another person etc.;
    chattels sold for €2,540 or less;
    wasting chattels, such as private motor cars, animals;
    winnings from betting, lotteries and sweepstakes;
    gains accruing to superannuation funds, charities and certain bodies, such as local authorities, approved sporting bodies and trade unions;
    works of art valued at not less than €31,740 where they have been loaned to an approved gallery for a period of not less than six years for display to the public;
    a gain on a dwelling-house (including grounds of up to one acre) where the house has been used as an individual’s only or main residence (or, under certain conditions, as the sole residence of a dependent relative) during the individual’s period of ownership. In certain circumstances there may be a restriction on the relief or partial relief may be due.


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