What are my tax obligations as a RaboDirect Investor?

RaboDirect offers investors capital growth investment funds. Growth investment funds reinvest any income earned back into the fund.

The acquisition of an investment in a offshore fund will bring all individuals (inc. PAYE) within the "Self Assessment" regime and in this regard, they would have to make a tax return for the tax year in question. Details of the acquisition including the name and address of the offshore fund, the date the interest in the fund was acquired, the amount of capital invested in acquiring the interest and the name and address of the intermediary - Rabodirect - through whom the investment was acquired) should be made on Form 11 under Section 318 (e), (g), (h), (i) and (j). For further information see Learn how to make  Annual Tax Returns to the Revenue.

Any gains made from the buying and selling of units in RaboDirect's funds are taxed on a gross-roll up basis. This means that the funds grow free of tax until the investor decides to sell their investment. When an investor sells their investment the investor is liable to pay tax* on the total increase in value of the investment.

This is only a general tax summary. Individual circumstances may differ. The tax situation may change in the future. Taxation is a complicated issue and we recommend that you seek advice from a tax adviser. For more tax information click here.

* Based on current tax legislation, any gains made on investment funds will be taxed at 30% on sales concluded up to 31 December 2011. From 1 January 2012 onwards, any gains made on investment funds will be taxed at 33%. 

Learn how to make Annual Tax Returns to the Revenue