Sunday, February 28

Gains from stocks may be taxable by IRAS

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All these while, I thought that capital gains from the sale of shares or financial instruments will not be taxed by IRAS. However, if you look closely at the IRAS website, it states that the gains may be taxable if the individual is trading and that depends on the frequency and volume of transactions and the interval between the purchase and sale. Well, if you are investing, you are not likely to fall under this category since the holding period of the shares will be rather long. On the other hand, those who do trading are more likely to fall under this category. Another disadvantage besides the expenses incurred for brokerage charges due to the frequency of trades.

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