2Mon·

KapEst Gold - Trade Republic - Wisdom WGLD

Hello everyone

does anyone have any experience regarding the tax treatment of profits of the $WGLD (-1.31%) at Trade Republic for holding periods >1 year? The gold is physically deposited and therefore does not fall under settlement, but is subject to the private tax rate according to § 23 EStG or, if the speculation period (>1 year) is observed, no capital gains tax. Is this automatically taken into account by TR and is this included in the data record of the $WGLD (-1.31%) from the third-party provider, or does this have to be done ex post via the EKST? Would like to realize something after the "mega run" of the last weeks / months.

26 Comments

userc5d1865d6d994d2a@userc5d1865d6d994d2a

2Mon

If anyone sells $WGLD at TR and has reliable experience, please let us know. Only then will we know for sure.

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VillaSpilla@VillaSpilla

2Wk

@userc5d1865d6d994d2a I simply sold 1 of my $WGLD holdings BEFORE the first year was up on February 26 (25% withholding tax was deducted). On 28.2. the LIMIT = 1 year was over. Then I sold another 10 units on March 6 and NO withholding tax was deducted. Therefore, if we just stick to $WGLD, @TheCashConcierge, I don't understand the additional claim. If >1 year there is nothing to claim, if <1 year then the FA has to deduct the KESt from TR. I.e. I am always fine and clean.

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Alpalaka@Alpalaka

1Mon

take a look here: https://www.instagram.com/p/DUoGrljDK0c/?img_index=1

According to TradeRepublic, $WGLD $WSIL and $SGBS would be tax-free. Now someone would just have to try it :D

TR's response to a comment on whether the tax exemption is automatically taken into account after one year:
"(1/2) For WisdomTree Physical Gold ETCs, we do not automatically deduct tax. These physical ETCs are considered private assets in Germany. For the ETCs in this post, gains are tax-free after a holding period of at least 1 year."
"(2/2) If you sell before the deadline, gains up to €1,000 are tax-free (exemption order). If you exceed this amount, the entire profit will be taxed at your personal income tax rate. We will provide you with an annual tax certificate for this purpose."

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VillaSpilla@VillaSpilla

1Mon

@Alpalaka 👍🏻 - I will do this on 28.2 - then the first year is over

It's just funny that TR didn't tell me THAT, otherwise it would have been easy-peasy.... Let's see.

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VillaSpilla@VillaSpilla

2Wk

@Alpalaka See above. Has been tried and approved.

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Alpalaka@Alpalaka

2Wk

@VillaSpilla You sold and no tax was charged. Very good

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VillaSpilla@VillaSpilla

2Wk

@Alpalaka Exactly!!! Unfortunately I can't embed a screenshot or file here as an answer so that you can see it. Only one euro fee from TR was deducted.

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TheCashConcierge@TheCashConcierge

2Mon

Comment was deleted

VillaSpilla@VillaSpilla

2Mon

But if TR doesn't withhold anything, then I don't have to do anything anyway. Why should the tax office ask? I mean, sure, I can then prove it.

TR has just written to me to the contrary, as they (cannot) check this per ETC with the physical deposit, they deduct KapEst. That's strange.

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yieldhunter@randomdude

2Mon

@VillaSpilla Maybe this will help:
https://getqu.in/i6jsPX/ https://getqu.in/i6jsPX/

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yieldhunter@randomdude

2Mon

@VillaSpilla If I stay below the value limit for private sales transactions, I don't enter anything in my tax return. Only if I'm above it.

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yieldhunter@randomdude

2Mon

@VillaSpilla One more point about the physical deposit: This alone is not enough. There must also be a delivery option.

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TheCashConcierge@TheCashConcierge

2Mon

@VillaSpilla But that's the way it is with TR, you are welcome to inform yourself, I got mail from the FA - because I once declared crypto losses in 2022.

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A@nitroxx

2Mon

@randomdude this is available with WisdomTree, according to the info sheet tax-free after 1 year

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yieldhunter@randomdude

2Mon

@nitroxx If the ETC provider states and virtually guarantees this, all is well. Unfortunately, very few do. That was also the reason why the author of the linked blog article made test purchases.
Apart from that, I expect a broker to process sales correctly for tax purposes. In other words, they only withhold capital gains tax when it is actually due.

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Lorlen@Lorlen

2Mon

@VillaSpilla However, TR would then treat this incorrectly under tax law. Assuming that the ETC fulfills the criteria of physical deposit and the delivery option: then the tax is not calculated according to §20 EstG with the flat-rate capital gains tax, but it is a private sale transaction according to §23 EstG. This is taxed at the personal tax rate. If TR were to actually apply a flat-rate withholding tax, that would be... funny. But well.

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A@nitroxx

2Mon

@VillaSpilla Who answered that? The AI agent?

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VillaSpilla@VillaSpilla

2Mon

@nitroxx At first yes, but then forwarded to real support.
With the feedback that it can already be "tax-free", but this depends on the data delivery of the third-party provider and TR cannot / does not want to guarantee this for all ETCs.

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