Using Spouses Exemption

[DublinHead54]

Hi,

I Have an investment account in my name, but funds used to invest are jointly mine and my wife's from our incomes, we make decisions together and she is 50/50 beneficial owner. I'd like to use her exemption, and it is not possible to have a joint account on this broker.

From googling it suggests that a legal contract signed by both of us indicating 50/50 ownership would be suffice for Revenue rather than having to try and transfer shares / joint accounts.

Anyone any experience of this?

 

[ClubMan]

I'd like to use her exemption

What exemption are you referring to?
This perhaps?

What is exempt from CGT?

This page is an explanation of what is exempted from CGT

www.revenue.ie

Personal Exemption​

Each tax year, the first €1,270 of your gain or gains (after deducting losses) are exempt from CGT.

That's only of relevance where CGT treatment applies. And this suggests that you may be investing in a fund that isn't subject to CGT but rather 38% 8 yearly deemed disposal and exit tax?

I Have an investment account in my name, but funds used to invest are jointly mine and my wife's from our incomes,

 

[DublinHead54]

Yes to be clear her personal CGT exemption of 1,270.

In this case it is for the disposal of individual shares. Not funds subject to the 41%/38% tax.