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GAZETTE
july
/
augu
ST 1990
The Irish Society for European Law
Founded in 1973
President:
The Hon. Mr. Justice Brian Walsh.
Irish Affiliate to the
Cheirmen:
Mr. Eamonn G. Hall, Solicitor
Fédération Internationale
Pour le Droit Européen (F.I.D.E.)
P R O G R A M ME FOR A U T U M N 1 9 9 0
1. Wednesday, October 17, 1990:
Mr. Finbarr Murphy, Barrister, Legal Advisor, Bank of Ireland
A past Chairman of the Society
-Consumer Policy in the European Communities: Its
Effects in Irish Law.
2. Thursday, November 15, 1990:
The Hon. Mr. Justice Ronan Keane, Judge of the High Court, President of the Law Reform
Commission - Community Law and Irish Law: A Fruitful Tension.
3. Thursday, December 13, 1990 at 6.15p.m.
The Annual General Meeting of the Society
- To be held in the main Reception room
of the European Commission Office, 39, Molesworth Street, Dublin 2. The meeting
will be followed by a Wine Reception.
Lectures take place at 8.15 pm at the
Kildare Street and University Club, 17 St. Stephen's Green,
Dublin 2.
By kind permission.
Members and their guests are invited to join the Committee and guest speakers
for dinner
at the
Club at 6.15 pm on the evening of each lecture. Members intending to dine must communicate with
the Membership Secretary, Jean Fitzpatrick, Solicitor's Office, Telecom Eireann, 52, Harcourt Street,
Dublin 2. (Tel: 01-714444 Ext. 5929, Fax: 01-679 3980, Electronic Mail (Eirmail) (Dialcom) 74:
EIM076) not later than two days before the dinner, as advance notice must be given to the Club.
Membership of the Society is open to lawyers and to others interested in European Law. The current
annual subscription is £15.00 (£10.00 for students, barristers and solicitors in the first three years
of practice). Membership forms and further details may be obtained from the Membership Secretary.
But for the most part investors can
assume that the investment is
costing them an initial five per cent
of the sum invested plus a small
annual management fee. So ob-
viously he or she should be thinking
of investing for the medium to long
term - say three, or preferably five,
years as a minimum.
Up until this year's budget the
investor is insurance linked funds
had to pay a three per cent stamp
duty which was not applicable to
unit trusts but that anomaly has
been ended and the stamp duty
now applied to both. But some
important tax changes still remain.
Gains on the traditional insurance
linked funds are not taxable in the
hands of the investors but the fund
managers do have to pay capital
gains tax on their transactions in
managing the fund. With unit
trusts, the fund managers do not
pay any tax but the individual in-
vestor may be liable for capital
gains tax. But the operative word
is "may" for the average investor
should be able to avoid the tax
quite legitimately. For those who
can avoid that capital gains tax the
unit trust approach is better since
the investments within the funds
are not liable to gains tax either and
th fund should therefore grow
faster than a similar insurance
linked fund.
Each individual is allowed to
make up to £2,000 in capital gains
each year - £4,000 for a married
couple. With a bit of care the
average investor should be able to
keep his gains to below that
amount. Gains are only made when
the investment is actually cashed
in or when funds are switched from
one fund to another. The trick is not
to cash in or switch too many units
in any one tax year.
The other major difference bet-
ween the insurance linked funds
and unit trusts concerns confident-
iality. The insurance linked funds
are confidential. Investment in unit
trusts is not. The Revenue Com-
missioners can have access to the
records of investors in unit trusts.
•
THE SOLICITORS
BENEVOLENT ASSOCIATION
C o n c e r t &
B u f f e t S u p p e r
In aid of the association will be
held in the
President's Hall,
The Law Society,
Blackball Place, Dublin 7
on
Friday, 12th October, 1990
at 7.30 p.m.
GUEST ARTISTS:
The Band of An Garda Siochána
(By kind permission of Mr. E.C.
Crowley, Commissioner)
Nanette Ivers:
Mezzo
Soprano
Marie Askin:
Pianist
Subscription: £25.
Tickets: Available from Catharine
Kearney, The Law Society.
Phone: 710711. Fax: 710704.
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