A gross income distribution from an Irish collective investment fund is €2,500 under gross roll up taxation. What amount will be received into the investor's hands?

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Prepare for the Qualified Financial Adviser Exam 2 with flashcards and multiple choice questions, complete with hints and explanations. Get exam-ready and increase your confidence with our comprehensive study materials!

Multiple Choice

A gross income distribution from an Irish collective investment fund is €2,500 under gross roll up taxation. What amount will be received into the investor's hands?

Explanation:
Under gross roll-up, the distribution is received gross by the fund, but tax is charged on that distribution to the investor at 41% at the time of receipt. So from a €2,500 gross distribution, 41% is withheld as tax (1,025), leaving €1,475 for the investor.

Under gross roll-up, the distribution is received gross by the fund, but tax is charged on that distribution to the investor at 41% at the time of receipt. So from a €2,500 gross distribution, 41% is withheld as tax (1,025), leaving €1,475 for the investor.

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