Moving home from Singapore

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DislikedWolf50

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I’ll be eventually moving back from Singapore after 7 years working here. In this time I’ve been investing in the stock market and have some savings.

My question is with my shares, there’s no capital gains tax here in Singapore.
So I’m wondering if it’s worth selling them here before moving home. More than likely put it into property then when I move back.

Has anyone been through a situation like this in the past?
 
Yes.

You need to rebase anything that’s sitting at a gain.

And retain anything that’s sitting at a loss until you’re back in Ireland.

So if you’ve Apple shares that have done well, sell them in 2020 before you become Irish resident in 2021.

And if you’ve AIB shares that have done badly, wait until 2021 to sell those.
 
Gordon Gekko said:
Yes.

You need to rebase anything that’s sitting at a gain.

And retain anything that’s sitting at a loss until you’re back in Ireland.

So if you’ve Apple shares that have done well, sell them in 2020 before you become Irish resident in 2021.

And if you’ve AIB shares that have done badly, wait until 2021 to sell those.
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A bit of a technical query on on re-basing equities that have a positive gain. When selling the shares with a broker/online trading account, do you;
1) need to then transfer the funds into an Irish Bank before returning to live in Ireland
or
2) Is is acceptable to have the cash sitting in the trading account after selling the equity and rebasing, without having to transfer into a Irish bank account
 
SaveThePlanet said:
Does the 180 day rule, or the subsequent time that you will be resident in Ireand for the balance of that year have any influence on the timing to rebase?
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No, because we’re discussing a scenario where someone sells in 2020 and doesn’t become Irish resident 2021.

There’s no ‘180 day rule’; there’s a 183 day rule and a 280 day rule. Returning mid-calendar year or spending 140 days a year in Ireland (for example) and thinking you’re okay are the main bear-traps. 140 days a year in Ireland makes one Irish tax resident under the 280 day two-year rule. But then there’s a 30 day carve-out, so 251 plus 29 doesn’t actually pass the 280 day test.

It’s relatively complex basically.
 
Gordon Gekko said:
No, because we’re discussing a scenario where someone sells in 2020 and doesn’t become Irish resident 2021.

There’s no ‘180 day rule’; there’s a 183 day rule and a 280 day rule. Returning mid-calendar year or spending 140 days a year in Ireland (for example) and thinking you’re okay are the main bear-traps. 140 days a year in Ireland makes one Irish tax resident under the 280 day two-year rule. But then there’s a 30 day carve-out, so 251 plus 29 doesn’t actually pass the 280 day test.

It’s relatively complex basically.
Click to expand...
thanks for the response, its complicated, and the mid or early year entry add to the difficulty in understanding
 
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Gordon Gekko said:
No, because we’re discussing a scenario where someone sells in 2020 and doesn’t become Irish resident 2021.

There’s no ‘180 day rule’; there’s a 183 day rule and a 280 day rule. Returning mid-calendar year or spending 140 days a year in Ireland (for example) and thinking you’re okay are the main bear-traps. 140 days a year in Ireland makes one Irish tax resident under the 280 day two-year rule. But then there’s a 30 day carve-out, so 251 plus 29 doesn’t actually pass the 280 day test.

It’s relatively complex basically.
Click to expand...
Sorry, another query based on the response above and having re-read it a few time. Also, having done a number of searches on the timing issue, there is a lot of ambiguity on the answers that are available. So if you return after mid year, and avoid the Bear Traps noted above i.e are not Irish Tax Resident, can you dispose of the equity after return, but obviously before 31st Dec, and still not be liable to CGT?
 
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