Wow, thank you @TedSwippet and @Valuethinker for your comprehensive replies. ![:happy]( "smile")
Yes, the estate tax thing is a concern even if I plan on sticking around for another while!![:D]( "Very Happy")
And the Irish tax authority deemed disposal rules, taxation on ETFs in general and the ambiguity around non EU based ETF tax treatment is a bit of a disgrace. It actually encourages speculation in individual stocks due to their favourable tax treatment and discourages sensible, broad based, long term ETF investing.
So maybe for simplicity sake, it probably would be sensible to just tow the line and buy Irish based ETFs. That is currently what I hold, SPPW, SPXS and EMIM.
To answer your question @Valuethinker, i managed to get categorised as an elective professional client with Interactive Brokers maybe 2 years ago. However, I also had a similar treatment for a corporate account I held with them and that has recently been recategorised to a retail client so I wouldn't be surprised if the same thing happens to my personal account. Possibly another reason to stick with Irish based ETFs!!
Yes, the estate tax thing is a concern even if I plan on sticking around for another while!
And the Irish tax authority deemed disposal rules, taxation on ETFs in general and the ambiguity around non EU based ETF tax treatment is a bit of a disgrace. It actually encourages speculation in individual stocks due to their favourable tax treatment and discourages sensible, broad based, long term ETF investing.
So maybe for simplicity sake, it probably would be sensible to just tow the line and buy Irish based ETFs. That is currently what I hold, SPPW, SPXS and EMIM.
To answer your question @Valuethinker, i managed to get categorised as an elective professional client with Interactive Brokers maybe 2 years ago. However, I also had a similar treatment for a corporate account I held with them and that has recently been recategorised to a retail client so I wouldn't be surprised if the same thing happens to my personal account. Possibly another reason to stick with Irish based ETFs!!
Statistics: Posted by john_eire — Fri Jan 12, 2024 5:22 am — Replies 3 — Views 489