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Capital Gains Tax Query

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  • 06-12-2019 1:41pm
    #1
    smndly
    Registered Users Posts: 215 ✭✭


    Hi all, So ive realised €788 profit on sale of shares this year. Im sitting on some other shares which are currently profitable and I want to continue to hold them.

    Does it make sense if I sell some shares to bring my realised profits up to €1270 before the 31st of December and then just rebuy the shares next year?

    Is there a limit on how quickly I can rebuy the shares? For example can I sell some shares today and realise €400 profit bringing me up towards 1270 and rebuy those same shares tomorrow?

    TIA!


Comments

  • Options
    #2
    Millionaire only not
    Banned (with Prison Access) Posts: 1,625 ✭✭✭Millionaire only not


    smndly wrote: »
    Hi all, So ive realised €788 profit on sale of shares this year. Im sitting on some other shares which are currently profitable and I want to continue to hold them.

    Does it make sense if I sell some shares to bring my realised profits up to €1270 before the 31st of December and then just rebuy the shares next year?

    Is there a limit on how quickly I can rebuy the shares? For example can I sell some shares today and realise €400 profit bringing me up towards 1270 and rebuy those same shares tomorrow?

    TIA!

    Yes u are spot on , just run it by ur accountant for sake of phone call as they will be doing ur returns


  • Options
    #3
    Mach 3
    Registered Users Posts: 233 ✭✭Mach 3


    smndly wrote: »
    Hi all, So ive realised €788 profit on sale of shares this year. Im sitting on some other shares which are currently profitable and I want to continue to hold them.

    Does it make sense if I sell some shares to bring my realised profits up to €1270 before the 31st of December and then just rebuy the shares next year?

    Is there a limit on how quickly I can rebuy the shares? For example can I sell some shares today and realise €400 profit bringing me up towards 1270 and rebuy those same shares tomorrow?

    TIA!

    Check out the term bed and breakfast.

    https://www.askaboutmoney.com/threads/cgt-on-sale-of-shares-bed-and-breakfast-rules.208636/


  • Options
    #4
    Millionaire only not
    Banned (with Prison Access) Posts: 1,625 ✭✭✭Millionaire only not


    OSI wrote: »
    Why would you bother your nut hiring an accountant to do your tax return for the sake of share sales that didn’t even realise a tax liability, you’d lose most of the profits you made for something that would take you 10 minutes.


    Mine would be fired in with all the rest of my stuff , I wudnt have time for trivial things like that !


  • Options
    #5
    tesla38
    Registered Users Posts: 7 ✭tesla38


    As a Revenue online user do I need to register separately for CGT tax?
    Thanks


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