Taxes on Shares

[nanananaBatman]

Hi folks,

i'm originally from the EU-main land, but live since over two years in Ireland. i don't play poker professionally and i used the search function about winnings and taxes (found the threads from the french guy).

anyway, i wanted to be careful, so here's my silly question: when i've bought some action and the guy won money for me, do i have to pay taxes on that winnings?

[Emmet]

no

[shrapnel]

no

really? i wouldn't have thought it's that clear cut (if everything is on the books). You are essentially making an investment i would have thought.

[Emmet]

really? i wouldn't have thought it's that clear cut (if everything is on the books). You are essentially making an investment i would have thought.

Do lottery winners (part of syndicates) pay tax on winnings?

It's the same here surely.

[PokerPiper]

really? i wouldn't have thought it's that clear cut (if everything is on the books). You are essentially making an investment i would have thought.

Proceeds from gambling are tax-free.

Profits from investment disposals are subject to capital gains tax. Dividends from investments are subject to Income Tax.

Its still ambiguous as the whether 'investing' in gambling is taxable imo. However, its not really an issue if the amount (of gain) we are talking about is below the annual CGT threshold allowance before tax is due to be paid which is €1,270

If you are talking about larger sums of cash it would be best to talk to a professional advisor.

[shrapnel]

Do lottery winners (part of syndicates) pay tax on winnings?

It's the same here surely.

pooling money for gambling/lottery syndicates is different imo.

Do staking companies pay taxes on their winnings? pretty sure they do.

[NewApproach]

no

It's nowhere near as clear cut as that.

[shrapnel]

Proceeds from gambling are tax-free.

Profits from investment disposals are subject to capital gains tax. Dividends from investments are subject to Income Tax.

Its still ambiguous as the whether 'investing' in gambling is taxable imo. However, its not really an issue if the amount (of gain) we are talking about is below the annual CGT threshold allowance before tax is due to be paid which is €1,270

If you are talking about larger sums of cash it would be best to talk to a professional advisor.

pretty much my point. this, in my mind is an investment. I imagine if he's asking the question, it's because of a sizeable score. if it was just a few grand it would most likely end up as cash in hand.

[nanananaBatman]

okay, thanks for the answers so far, i'll try to find an 'expert' in taxes ... hope there's someone in town

[V for Vendetta]

pretty much my point. this, in my mind is an investment. I imagine if he's asking the question, it's because of a sizeable score. if it was just a few grand it would most likely end up as cash in hand.

You would have an argument if he could write off staking losses against gains on stocks, shares and property. In that case Mick the Lip would have done a roaring trade during the boom just by writing receipts!! Since that isn't the case I'd be stunned if it was argued as taxable by the Revenue.


Lottery ticket syndicates are a formal staking/sharing arrangement and not subject to tax but if I win the lotto and gift somebody funds that is subject to CAT. Hence almost every winner is a syndicate not an individual when they draw down the lottery payment.

[PokerPiper]

Picturing the €2 Quickpick with 10 Winners :-)