First In First Out (FIFO) is related to your tax liability if you buy units in the same RaboDirect fund at different times and then sell some of these units.
First In First Out (FIFO) is the method of calculating the tax charge where a person holds units in the same fund which have been purchased at different dates.
I wouldn't be counting on it, particularly for less common tax problems.I think it's up to the Revenue to explain how the tax liability is to be calculated correctly - I would expect them to post a simple guide with examples on their web-site.
..... with funds there’s a deemed disposal after 8 years where tax must be paid.
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This hasn’t become an issue yet because they only created this 8 year deemed disposal in 2006.
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