Behandling af personlig investering i aktier, obligationer og Kommanditselskaber: En komparativ analyse af behandlingen af de passive investeringer som en privat investor kan benytte

Anders Jensen

Studenteropgave: Kandidatafhandlinger

Abstrakt

The thesis deals with investment in bonds, shares and limited partnership shares. First of all, the thesis provides an overview of the limited partnership company structure on legislation and regulations including the tax law transparency in a limited partnership. Limited partnership companies are classified by both number of in limited partners as well as the investment assets. This has been thoroughly reviewed so that the investor is aware of profit possibilities as well as tax regulative as well as possible unforeseen events that a limited partnership may offer. A limited partnership has two types of investors, limited partners and general partners. The limited partners shares limited risks, while the general partner share risks jointly and severally. When a private investor invests capital in a limited partnership, it is generally as a limited partner. By investing in a limited partnership the investor will be taxed on the company's operations including the tax depreciation. This is possible because the corporate type limited partnership is tax lax transparent with its investors. In addition, the thesis described the tax options there are as an investor in a limited partnership. Both the rules of the personal taxation, as well as the option of “business rules” (virksomhedsordningen) are described. Under these rules, an investor can obtain a full deduction for interest expenses and were taxed at the favorable 25% of retained earnings. The thesis also provides an overview of profit from an investment in stocks and bonds or bonds and how profit and loss will be addressed both regarding the tax issues, and also discussing adhering risk factors. Interest and profits of the bonds are classified and taxed by same percentage as “capital income”, and any income will be included in the person's ordinary capital income. For shares, the shareholder dividends and capital gains are taxed together as equity income, where as losses on shares will be carried forward to offset against future income from shares. In the last part of the thesis has been made calculations on cases, where theories are used to check the profitability of the various forms of investment. The investment in both limited partnerships or alternatively bonds or shares over a period of 20 years do all show a very nice profit. This is a consequence of selected interest rates and prospect facts given for the investment cases. The nice profits and positive outlook for the investments given in the prospects have been set in perspective pointing at the uncertainty of long term predictions and unforeseen events like the ‘turn around’ of the finical markets since 2008. The profits from the calculations are closely linked to the risk profile held by the individual investments. The ‘rule of thumb’ is that the investment is bonds posed the lowest risk. The most risky form of investment is the limited partnerships, where the total liability is paid at the start of the investment.

UddannelserCand.merc.aud Regnskab og Revision, (Kandidatuddannelse) Afsluttende afhandling
SprogDansk
Udgivelsesdato2013
Antal sider152