Hi Folks,
I have a good grasp of the 8 year deemed disposal concept however I am trying to understand & or find a related rule.
As I understand it if I sell my assets which I know are subject to the 8 year deemed disposal rules before I become tax resident in Ireland I need to hold the proceeds of those (rebasing) sales out of the market for a fixed times before re-entering the market in order to reset the 8 year clock to zero.
Can anyone direct me to the rule regarding how long I need to stay out of the market? I suspect it should be one day at most but some tax knowledgeable folks are saying no it is longer but they haven't specified how long or where to read the rule.
Thanks all.
I have a good grasp of the 8 year deemed disposal concept however I am trying to understand & or find a related rule.
As I understand it if I sell my assets which I know are subject to the 8 year deemed disposal rules before I become tax resident in Ireland I need to hold the proceeds of those (rebasing) sales out of the market for a fixed times before re-entering the market in order to reset the 8 year clock to zero.
Can anyone direct me to the rule regarding how long I need to stay out of the market? I suspect it should be one day at most but some tax knowledgeable folks are saying no it is longer but they haven't specified how long or where to read the rule.
Thanks all.