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Budget 2025

  • 10-07-2024 10:28am
    #1
    ballyharpat
    Registered Users, Registered Users 2 Posts: 1,819 ✭✭✭


    From some of the news yesterday, looks like we will have a 'giveaway' budget.

    After being in the USA for a long time, and started investing over there, it's very difficult over here. We get taxed the same on our capital gains, short and long term. It's not easy to carry over losses from one year, to the gains of a few years going forward. If people could invest in stocks, there would be a lot less speculation on buying houses as an investment, or the need to ever buy a house, this could have a downward pressure on house prices. It would probably take 20 years or so before it becomes normal for people to invest in stocks, since there was so much 'poor' speculation in a handful pof Irish companies, some even pushed by the government it seems, during the boom.

    https://www.irishtimes.com/business/2024/05/13/budget-could-include-tax-changes-to-encourage-households-to-invest-savings/



Comments

  • #2
    howiya
    Registered Users, Registered Users 2 Posts: 3,318 ✭✭✭howiya


    https://www.boards.ie/discussion/2058359029/budget-2025

    There is a review of the funds sector ongoing. I believe a lot of the submissions made where by private individuals who would like to invest in funds but don't because of the current tax regime, deemed disposal etc



  • #3
    JP Liz V1
    Registered Users, Registered Users 2 Posts: 87,288 ✭✭✭✭JP Liz V1


    Apparently parents who qualify for child benefit will see the payment go up by €10 a month

    https://forumofgames.com/




  • #4
    downtheroad
    Registered Users, Registered Users 2 Posts: 3,227 ✭✭✭downtheroad


    You can invest in stocks all you want. Nobody stopping you.

    You're going to be taxed at 33% on your gains.

    Unless it's ETFs/Offshore Funds, 41% exit tax for you then.

    It's extremely easy to carry forward capital losses to use against gains.



  • #5
    thatsdaft
    Registered Users, Registered Users 2 Posts: 965 ✭✭✭thatsdaft


    https://www.boards.ie/discussion/2058359029/budget-2025

    Re: investing

    The punitive and uniquely Irish punitive and bizarrely complex taxation of ETFs forces Irish investors into picking riskier single stocks and … investing in property

    One would almost suspect that is by design

    And that’s before we get to our high capital gains with low 1270eur tax free treshold which was set twenty years ago and not kept with inflation (or even the Brits next door)



  • #6
    ballyharpat
    Registered Users, Registered Users 2 Posts: 1,819 ✭✭✭ballyharpat


    https://www.boards.ie/discussion/comment/122381969#Comment_122381969

    You are missing the point. That is exactly the point.



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  • #7
    thatsdaft
    Registered Users, Registered Users 2 Posts: 965 ✭✭✭thatsdaft


    I

    https://www.boards.ie/discussion/comment/122381969#Comment_122381969

    yes you can but the whole purpose of ETFs is to reduce risk to investors by buying into a basket instead of betting on single horses

    Ireland is out whack there with everyone when it comes to our bizarre current policy

    Way too many Irish investors instead of investing in ETFs and their pensions go instead the route of pouring money into property instead as its less friction and taxes at a time when there’s a housing crisis



  • #8
    ballyharpat
    Registered Users, Registered Users 2 Posts: 1,819 ✭✭✭ballyharpat


    https://www.boards.ie/discussion/comment/122382632#Comment_122382632

    They really do not encourage investing for the ordinary person.

    A rental property is out of the reach for most people as an investment, it's also risky as you get closer to retirement, as well as tying up a lot of money, whereas investing in stocks allows you access to all, or some of your money whenever you want.

    The tax free threshold is a joke, the risk we take as investors is very high for our returns. I invest, but when I was working for a large company, the only way I could get a tax break would be if I used their investment fund. There may be other ways out there to invest for 10 years, 20 years, or retirement, as a self employed person, but they are very well hidden if they do exist.

    The USA tax on investments:


    What you pay depends on your total income and how long you've held onto those assets. If you have a long-term capital gain – meaning you held the asset for more than a year – you'll owe either 0 percent, 15 percent or 20 percent in the 2023 or 2024 tax year.



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