Hi all,
We are jointly assessed and considering selling some shares.
All shares were bought separately by either of us as part of an ESOP but are now in a joint account with a broker.
If we sell them all, I will make a gain and my spouse will make a loss.
I think we can be jointly assessed on this. Can someone confirm that my understanding is correct.
Here is a quote from a revenues tax manual on CGT
[broken link removed]
If in a year of assessment one spouse has allowable losses which he/she cannot utilise because of an insufficiency of chargeable gains (from which those allowable losses would be deductible under section 31), the balance of the losses after being set off against that spouse’s gains (if any) can be offset against the other spouse’s gains in the year of assessment.
Can I assume that this means that we can be jointly assessed.
Net CGT payable = ((My Gain - his loss) * 0.33 ) - €2540
Thanks,
HD
We are jointly assessed and considering selling some shares.
All shares were bought separately by either of us as part of an ESOP but are now in a joint account with a broker.
If we sell them all, I will make a gain and my spouse will make a loss.
I think we can be jointly assessed on this. Can someone confirm that my understanding is correct.
Here is a quote from a revenues tax manual on CGT
[broken link removed]
If in a year of assessment one spouse has allowable losses which he/she cannot utilise because of an insufficiency of chargeable gains (from which those allowable losses would be deductible under section 31), the balance of the losses after being set off against that spouse’s gains (if any) can be offset against the other spouse’s gains in the year of assessment.
Can I assume that this means that we can be jointly assessed.
Net CGT payable = ((My Gain - his loss) * 0.33 ) - €2540
Thanks,
HD