Investing directly in stocks does currently involve less tax exposure but the risk for your money is far higher. Illustration: Paul Scott
I hold shares through Davy in a few Irish companies but rarely trade them. It’s a small holding – the total market value is currently €25k, and looking back I see that in 2018 it was €22k, so no big (paper) profits.
I’ve made a few poor choices which have weighed heavily on my holdings, but as an optimist I hang on to them.
In conversation recently, an acquaintance said that the Government charges tax on holdings as well as CGT on profits. The conversation chimed as I recall the Government discussing such a plan some years ago. I haven’t seen anything about this on my ROS account. Can you clarify please?
Mr P.W.
Optimism is not necessarily the ideal approach to investing but we’ll return to that in a moment.
The fact that there is such confusion about tax on investments is telling. And it may go a long way towards explaining why close to 90 per cent of the €168 billion in Irish household savings is sitting in demand deposit accounts earning next to zero in interest – wi
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