Gain period on foreign acquired shares for CGT calculation

rc_funds

Registered User
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5
While I was living abroad and tax resident in another country I purchased some shares in a personal account.
I've since sold them while resident in Ireland and made a gain. The country I bought the shares in does not hold me liable to CGT, the CGT is deemed to be payable in the country I am tax resident in for the sale, i.e. Ireland.

In determining my liability, I consulted an accountant who mentioned CGT is only liable on the growth since I returned to Ireland.
This was surprising to me, does anyone know if this is correct?
I would have thought any gain from purchase date to date returning to Ireland must also be taxed by someone (I assumed Ireland), and I'm quite certain the original country does not tax it.
 
Thanks guys, figured as much, sounded way too good to be true and didn't sound right, but I was hoping against hope
 
The only out I can see is if you are non-domiciled and you haven't remitted the proceeds back to Ireland but seems unlikely from the facts you set out.

In order to be liable only on the growth since you came to Ireland you would have needed to rebase them (e.g. bed and breakfast arrangement or something like that) before you came back. However that would probably have triggered a gain in the country where you were resident.