CGT and foreign currency

[seesaw]

Scenario:
I buy a share for 1 dollar at a time when the exchange rate is 1euro = 1dollar.
Some time later I sell that share for 2 dollars but now the exchange rate is 2dollars = 1euro
In this scenario I made a 1 dollar gain but converting back to euro I made no gain.

Am I correct in understanding that in a scenario like this that there is no CGT liability?

 

[jpd]

Yes you are correct - capital gains and losses are calculated in euros, using the conversion rate on the day of the transaction.

So in example you bought for 1 euro and you sold for 1 euro ie no gain or loss

 

[seesaw]

Thanks for that jpd.
For tax purposes if you get the exchange rate for the day(e.g. from central bank website) is there a standard "exchange rate - X%" allowed in the calculations as you never get the exchange rates quoted online?

 

[jpd]

Just use the Central Bank exchange rate - no, I don't think there's an allowance for the exchange rate fee. In any case, if you are not actually converting the foreign currency proceeds, it would not be appropriate to charge a fee.