Offshore income gains and losses

Question:

Thanks for the response but could you also explain how losses are handled on a non-distributing fund ? Finally for a particular ETF security do you calculate whether your have a loss or gain on a trade by trade basis or in aggregate for all trades in the year ?

Answer:

Thanks for the response but could you also explain how losses are handled on a non-distributing fund ?

Any losses wouldn't be income losses but would be capital losses. Therefore they would be offset against other capital gains or carried forward.

Finally for a particular ETF security do you calculate whether your have a loss or gain on a trade by trade basis or in aggregate for all trades in the year ?

You would usually look at each particular disposal.

About the Author

He worked in Ernst & Youngs Entrepreneurial Services department for a number of years before setting up his own tax planning practice. He is now a full time tax author.

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