First Active CGT

U

userpete

Guest
I am having difficulty working out my liability for CGT relating to above. I received 2 lots of shares, firstly for my deposit A/C 450 free, + 45 bonus = 3069 euro. Secondly for my mortgage A/C 450 + 45 + 127 which I bought at the same time = 622. Total no. of shares = 1117. I cannot remember how much these 127 shares cost me. I received cheques totalling 6925.40 euro. Can anyone work out my liability from information provided.
 
FIRST ACTIVE

aGAINST your proceeds of 6952 you can deduct
1)the cost of the 127 shares 2)Annual allowance 1270
3)any existing CG Losses example eircom shares

and the net of these is taxed at 20%
 
FIRST ACTIVE

> 3)any existing CG Losses example eircom shares

Not strictly accurate since previously incurred capital losses and FA acquisition costs must be offset against the 2003 FA capital repayment first - in particular before the 2003 CGT allowance - and only the remainder carried forward to be offset against the FA takeover payment. Because of the 2003 capital repayment and other possible stuff like "free" and purchased shares, B&B transactions, spousal transfers, eircom or other losses etc. there can be more to the FA CGT calculations than first meets the eye! :\


See here for more on this:
 
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