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ETFs in Ireland: The Tax That Could Derail Your Investments!
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exchange traded funds are a popular investment vehicle for many investors because of their ease and low expense ratio but it's important to know that in Ireland the taxes are very different for ETFs versus any other asset in Ireland there's a tax code deem disposal which is by far the worst hacks you could possibly be exposed to this is where every eight years you are deemed for the purpose of your taxes to have sold your ETFs and are liable for 41 tax on all profits you've made over the eight years on this ETF this means you have to pay 41 on the amount the ETF has increased plus the dividends you've received over these eight years you must pay this every eight year anniversary of the purchase of this ETF for example if you own eight ETFs you have to pay this tax on all age ETFs and if you lose money on any one of the ETFs you cannot set this loss against any other taxes that you owe whereas when you sell any other asset in Ireland at a loss you can get a tax credit that you can use against the profits of any other asset that you sell in that same year in Ireland there's a capital gains allowance of 1 270 euros per year which means if you sell it you can make a profit of 1 270 euros tax-free however there is no exemption in Ireland for ETFs you also have to pay 25 on dividends earned in Ireland so it makes a lot more sense to buy accumulating ETFs instead of Distributing ETFs for the purposes of saving this 25 on your dividends because this really adds up over a long time there isn't much difference in the performance of either here is a graph of accumulating and distributing S P 500 ETF and as you can see they're very similar even when all this taken into account it's safe to say that while ETFs are taxed incredibly highly in Ireland they are still the best source of passive income and protection against inflation you can get the only other passive income in Ireland that would beat the performance in terms of earnings is buying a property you plan to rent out but doing this requires a lot of upfront capital and taking on debt for most people buying ETFs like the S P 500 gives you an almost eight percent annual return When adjusted for inflation with essentially no effort the only effort required is to set up a brokerage account and to remember to buy the ETF once a month and it's still a much better investment than leaving your money in the the banks in Ireland banks are providing you at essentially a zero percent return on your money and you still have to pay dirt tax which is a tax on the interest you earn on your savings which is 33 even with this eight percent difference in tax it still makes sense to buy an S P 500 ETF instead of leaving your money in the bank if you were to save 500 a month for 40 years you would have 240 000 in your bank whereas if you bought 500 worth of an S P 500 ETF you would have 1.5 million assuming an 8 annual return however because of this deemed disposal tax in Ireland you would have just 500 000 after 40 years so doubling your money and this is only if you sell 41 of your ETFs to pay the taxes that you owe at the end of every eight years in reality you would be able to put some of your own cash that you have from your job to pay some of this tax off so now you really see why I said this tax is the worst tax to be exposed to it's also very clear to see that buying ETFs in Ireland isn't as good of an investment as you may have taught before
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