I'm not the best of investors having been burnt by Eircom and AIB shares in the past. But, yesterday one of my former work colleagues advised me to invest in a "barrel"* or cask of craft whiskey. His return todate has been between 10% and !2% (per annum, I assume). I have no problem about how to invest. It's a case of paying up and hope you've done wisely. I assume this is whiskey being distilled/made and not the finished product.
But, my colleague advised he received an "income tax clawback" of circa €2000 recently as a result of his whiskey investment. Can anybody explain this apparent nice little earner of a tax refund to me in simple terms and without financial jargon?
*equivalent of 497 bottles of whiskey.
Any other information on the risks of investing in whiskey would be welcome too.
But, my colleague advised he received an "income tax clawback" of circa €2000 recently as a result of his whiskey investment. Can anybody explain this apparent nice little earner of a tax refund to me in simple terms and without financial jargon?
*equivalent of 497 bottles of whiskey.
Any other information on the risks of investing in whiskey would be welcome too.