Budget 2014


#181

They’d put the onus on the deposit owner to go to Revenue to get the refund, if someone does nothing they pay 41% regardless of income.

Something similar used to work with pensioners not needing to paying DIRT tax, they’d to go and fill a form stating income and assets, it’s been simplified but ~10 years or so ago only a couple hundred pensioners were getting DIRT free deposit interest.

Revenue seem to be asking more and more PAYE earners to give them annual returns so this could help that along as well.


#182

so if we add in children’s allowance the poster could receive another €4,680 from the state (I’ve assumed €130 for each child is this correct?) to bring it up to 38,373 NET from the state without lifting a finger and the poster also would not incur and costs of going to work

Now leaving that untouched really sounds like a budget that’s “fair to all” XX


#183

Wow…had no idea that was paid out. My mistake.


#184

FineGael promised to reduce wasteful spending instead of raising taxes “aggressively cut the waste in our public service to keep all taxes as low as possible” and “abolishing 145 quangos” :unamused:
2011 Fine Gael five point plan


#185

We have been tracking the Quangos here
viewtopic.php?f=4&t=46675&hilit=fg+quango


#186

What time’s Noonan revealing what’s not already been leaked?


#187

Whats left to reveal?

independent.ie/business/budg … 61471.html


#188

and what time will they start rolling back on the less screaming mob friendly cuts?


#189

Does not compute. If you reduce the effective return on my savings, I’ll just have to save more to compensate, or maybe move the savings to a different location or asset to get a better return. Either way, you’re not going to get me to go out and buy stuff I don’t want. :unamused:


#190

You are not supposed to save, silly. You are to spend every cent you have in the economy to keep it ticking over.


#191

Noonan is on at 2.30pm.

RTE live updates are here
rte.ie/news/2013/1015/480453 … -live-one/

Latest

Edit: the only new item there is maternity benefit cut


#192

Not sure what their definition of “older” is but if they mean pensioners this is the demographic I find to most prudent in the limited circle I know. They lived through the 80s and squirrel as much cash away as possible. Not sure if it’s just lessons learned in the 80s or trying to leaving children a few quid


#193

It’s madness is what it is. My ancient relative who has a large cash pile lives off the interest and a reducing capital amount paying his healthcare costs and his living costs. He is being punished for providing for himself. It is now in the family interest that he gift the money to his children, claim poverty and get increased benefits.


#194

Well they’ll get him that way too as threshold for gift and inheritance tax has been slashed over the last few years :frowning:


#195

Such as property, to get NAMA into the black. Along with 9% vat for builders… bet the builders merchants have been quiet for the last few days…


#196

Amen to that. Fcuk them - the more they try to push people into needless consumerism the more I’m determined to save.


#197

Well, it’s still a quarter of a million and he has five children… (I’m not one of them :smiley:). That’s way more than he has in the bank.


#198

Are we finally becoming good Germans? :smiley:


#199

Another few leaked, the old reliables:

+10c pint of beer
+10c fags
+50c bottle of wine


#200

I think Brian Dowling also said the pension levy would be extended but it would be reduced.

It’s what many predicted but disappointing given the many assurances it was temporary (I’ll never trust a politician again :blush: ), they’ll no doubt use the tourism industry 9% VAT rate as cover.

On DIRT my reaction will be to redirect savings much more heavily into alternative investments.

The risk/reward ratio is changed if savings are highly and annually taxed but a share can be held for decades without tax implications (dividends aside). Also if you get moderately wealthy with shares I believe you can move to somewhere like Belgium and dispose of the shares there without paying CGT.