can share losses be set against gains

[Tullaroan]

Hi, am about to sell Tullow Oil shares at a profit. I have other share losses. Can these be set against gains to minimize CGT? TIA.

 

[colm5]

Yes,
It's explained on wwww.revenue.ie under CGT section. There is a exemption of 1270 euro of gain, which is untaxed

 

[WaterSprite]

Note that you have to offset the losses before you deduct the exemption.

 

[Barney Magoo]

Hi, am about to sell Tullow Oil shares at a profit. I have other share losses. Can these be set against gains to minimize CGT? TIA.

This may be obvious but...
You must have 'realised' these losses on other shares (i.e. sold the shares at a loss within a certain timeframe) for them to be allowable in your calculation of CGT.
Some people assume that because the price has gone down that they are allowable in CGT calculation.

 

[Tullaroan]

Thanks all, very helpful.