Wolframius
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The structure of the scheme is also somewhat friendly to day-trading, so I imagine the online brokers will be happy to offer them at low costs if they bring a lot of transactions.
Special Investment Accounts limits announced in Budget
- Thread starter Connard
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LarryScott
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Right, there is no need to work out gains/losses per trade.
The exact calculation could still be made complex.
Presumably, it is the average of 365 "close of business" values.
In theory, revenue could require a recalculation after every trade, but that seems unlikely.
There could be some avoidance by withdrawing before end-of-day and then redepositing the next day. It seems unlikely that that would be worth it though. In fact, it would burn the deposit limit, so wouldn't work anyway.
You can't keep cash in the account though so that limits potential for day trading surely? This is where the annual cap bites really as you can't withdraw for a bit and then reinvest more funds easily
LarryScott
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I thought it was that the account must have 0% return on cash? Selling shares would mean that the cash stays in the account?
Maybe they could make it so you can trade shares for shares, so there is no withdrawal
?This suggests that you can but maybe only temporarily when cashing in assets before withdrawing funds or something?
What is Ireland's new Investment Account
Learn how Ireland's proposed Investment Account could work, who may be eligible, how tax may be applied and what details are still to be confirmed.
www.ccpc.ie
Not really. There would be a very small risk of this. No margin/leverage available, no access to derivatives, no loss offset, limited ability to top up the account after a loss, cannot keep cash for extended periods of time, fees will probably make this unviable. Technical rules will probably reserve the right to revoke the tax free status of the account if certain activities violate the terms.
Something you need to understand about many on the left (and the limit is to appease them) is that someone else not having something is as important if not more than them having it.
Exit tax has been cut twice, from 41% to 35%, I can't see it going below 30%.
They probably plan to, but something will happen to make them not go ahead with it.
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There’s a good chance Ireland will come to regret this boomtime period as a missed opportunity
Country acts like it’s poor when it’s actually rich and should be thinking more strategically about its wealth
“The budgetary arithmetic is constructed on the crucial assumption that corporate profitability continues to expand; any decline in profitability could put a (potentially large) dent in corporate tax revenues,” the Department of Finance said in a report released with Budget 2027 on Tuesday.If we had saved the windfall element of corporation tax since 2015 – approximately 50 per cent of annual receipts – the State would now have a war chest of €130 billion, capable of generating about €10 billion annually in interest (a typical stock market return).
This would be enough to do away with the Universal Social Charge (USC) in one fell swoop, without having to raise tax elsewhere."
..... "Of course Ministers will point to the political straitjackets they find themselves in, the realpolitik of a modern democracy.
If Minister for Finance Simon Harris announced this week that he was planning to save €17 billion of the expected €34 billion in corporate tax this year in the midst of a cost-of-living crisis, he would, like Michael Collins, have been signing his own political death warrant and that of Fine Gael.
And therein lies the problem.
Big change requires a break from the sort of electoral budgeting, the winners and losers narrative, that we’ve had to date. A break from the firefighting, from the sticking plaster measures."
....."The Government seems to have shelved any semblance of a plan to widen the tax base and seems content to play the game with the chips it gets from Corporate America."