Income or Capital option for Standard Life shares

[newby2015]

Hi - I'm new here, and this is my first post.

I'm a low income earner (about 8000 - 10,000 per year as I just work part time). I have some (822) Standard Life shares. They are currently selling off their Canadian Business and they have written to the shareholders to ask if we would like the proceeds to be Capital or Income. I believe the choice depends on Capital gains or income tax allowances that each individual shareholder has.

I've tried researching on-line to see what to do, but most of the information I can find relates to UK taxpayers and doesn't give any clear pointer to which I should choose.

My own situation is I have a very low income so I am thinking I should perhaps get these proceeds as Income rather than Capital. I would welcome any advice from any other Standard Life shareholders in Ireland who might know more about the tax situation here and could sugget which is the best option for someone on a low income.

Thanks for any advice.

 

[Olympian]

I'm not a tax professional but if the gain is relatively small and you haven't had any other capital gain this year wouldn't the Capital option be better as "The first €1,270 of an individual's annual gains is exempt. The balance is chargeable at 33%."

So no Capital Gains tax is due if your 2015 gain is less than 1270.

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