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Taxation on equities and currency speculation?

  • 04-01-2010 4:08pm
    #1
    speculation
    Closed Accounts Posts: 13 ✭


    → You purchase Share X in February 2006 for €1 and sell it in September 2009 for €1.33. Assume no dividends paid.

    In each calendar year the share price rose 10%.

    Do you have to pay tax each year on the 10% gain or do you wait until you sell the share and pay the total CGT of 25% in 2009 on the €0.33 gain?

    If you have to pay each year on the annual gain is it CGT that is paid?

    If a dividend is paid what is the tax that is paid on this dividend payment and at what rate, assume gain of share is still 10% annually ex-dividend?

    → What tax is paid on currency speculation? Is there a tobin tax in Ireland? If not what is the likelihood of a tobin tax being introduced? Gordon Brown is looking to introduce tobin tax, could we be next?


Comments

  • #2
    sawilson2003
    Registered Users, Registered Users 2 Posts: 37 ✭sawilson2003


    speculation wrote: »
    → You purchase Share X in February 2006 for €1 and sell it in September 2009 for €1.33. Assume no dividends paid.

    In each calendar year the share price rose 10%.

    Do you have to pay tax each year on the 10% gain or do you wait until you sell the share and pay the total CGT of 25% in 2009 on the €0.33 gain?

    If you have to pay each year on the annual gain is it CGT that is paid?

    If a dividend is paid what is the tax that is paid on this dividend payment and at what rate, assume gain of share is still 10% annually ex-dividend?

    → What tax is paid on currency speculation? Is there a tobin tax in Ireland? If not what is the likelihood of a tobin tax being introduced? Gordon Brown is looking to introduce tobin tax, could we be next?

    You pay any CGT liability at the date of disposal of the shares.

    Dividends should be paid less witholding tax, you are taxable on the Gross Dividend at the marginal rate, but are given a credit for tax witheld when the dividend was paid


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