"To calculate the hobbyist's total return, we need to account for the initial purchase, the dividends received in two years, the sale of the shares, trading fees, and taxes on both capital gains and dividends. Here's how to break it down:
1. **Initial Purchase:**
- The hobbyist buys 300 shares at €30 each.
- There's a 0.2% trading fee for buying.
The total cost of purchasing 300 shares at €30 each with a 0.2% trading fee is:
300 \times 30 + 0.002(300 \times 30) = 9000 + 18 = 9018 \text{ euros}
2. **Dividends Received:**
- In the first year, a dividend of €1/share is received.
- In the second year, a dividend of €1.15/share is received.
- 30% of the dividends are tax-free, and the remaining 70% is taxed at 30%.
The net dividends received after taxes for the first and second years combined are:
300 \times (1 + 1.15) \times 0.3 = 509.55 \text{ euros}
3. **Sale of Shares:**
- The hobbyist sells the shares at €37 each.
- There's a 0.2% trading fee for selling.
The gross capital gain from selling the shares at €37 each (before taxes and selling trading fees) is:
300 \times (37 - 30) = 300 \times 7 = 2100 \text{ euros}
4. **Capital Gains Tax:**
- The difference between the sale price and the purchase price, minus the selling trading fee, is subject to a 30% capital gains tax.
The net capital gain, after accounting for the capital gains tax of 30% and the selling trading fee of 0.2%, is:
2100 - 30\% \times 2100 - 0.002 \times 2100 = 2100 - 630 - 4.2 = 1465.8 \text{ euros}
\textbf{Answer:} Thus, the hobbyist's total return on this investment, combining net capital gains and dividends after taxes, was approximately €1944.75.