Time to Juggle Investments to Beat the Looming New Year Tax Hikes.
Written by Fiona Reddan, The Irish Times.
Tax hikes are coming, for investors and savers alike, with deposit interest retention tax (Dirt) set to rise in January.
But as the new year rapidly approaches, should you take action now to avoid giving another cut of your income to the Stateâ€™s coffers?
From January 1st, the rate of Dirt on deposits will jump by almost a quarter from its current rate of 33 per cent, up to 41 per cent.
For investors, the move is not as significant, but is still hefty.
Any gains they make on investment funds and life assurance policies will have tax levied at a rate of 41 per cent also, a hike of almost 14 per cent on its current 36 per cent.
So what should you do if you have holdings in investment funds?
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