Budget 2014


#301

Health Insurance Council says tax change will impact on 90 per cent of private health insurance plans on market.


#302

Nah, couldn’t.


#303

How much will it be when the next bailout is needed? Or when the banks run out of money again?
This is a dial now, to be turned up and down as they wish.


#304

One of the bazillion “Budget Summaries” that’s coming into my inbox explicitly says that the 2013 announcements about unearned income still apply:

bck.ie/budget-2014

Edit: also confirmed by GT:

grantthornton.ie/db/Attachme … or-web.pdf


#305

Nail on the head here, zero real changes. No one has addressed the real issues.


#306

Yeah, I don’t believe it either. I’ve the equivalent of band B with options, whatever it’s called, on a company scheme and two adults, two children is the equivalent of 193 a month. That’s under 2400 a year versus tax relief for two adults, two children of 3000…


#307

GCT exemption for property extended to end 2014 according to Grant Thornton, to “help avoid any post year end dip in the property market”? How did I mis that?


#308

Right, well along with the increased pension stealing (up to 0.75%) and DIRT tweaks the message is clear: bring forward all future spending to reinflate the property bubble or we’ll confiscate it.

Anyone who though FG/Labour would be different from the last shower of useless unimaginative bastards will be sorely disappointed.


#309

Tax on your pension is 0.75%. Tax on property is 0.5% - pretty clear message there.

This was promised as a one off - obviously its not and they want people to put money in property not pensions.

What part of Fine Gael is not Fianna Fail? - FF are only criticising this for optics - it’s basically the same budget as they would have put through - more pork for builders


#310

I was having a read through the IMF October Fiscal Monitor report and it gives an interesting glimpse of the road ahead for us. Of particular interest is the revenue potential of a taxation of immovable property (property tax). Page 56. Property Tax yielding 2-3% of GDP is seen as a good long term goal.

SO what would that mean for us? GDP is currently about €160 Billion, so the goal would be €3.2-€4.8 Billion raised by 2 million properties. €1600-€2400 on average if it were all raised from residential property, which it is likely to be.


#311

page 47 of that link is interesting regarding tax avoidance by multi-nationals.


#312

Fair enough, I was just parroting what RTE’s Fergal Bowers said.


#313

#314

This could be the final push for everyday savers to move their money abroad.


#315

Questions, questions, questions. What would be the benefits/disadvantages to the everyday saver to move money abroad? How much makes it worthwhile? How difficult is it to set something like this up? Which country would you save it in instead?


#316

Moving the money abroad does not confer an advantage unless you engage in tax evasion. Probably not an appropriate topic here.


#317

Seems like in 5 or so years since the collapse no economic reform or changes have been made. Nothing to address competitiveness or the huge incentive to stay on welfare and not get a job because of all the entitlements. It is still a better lifestyle on welfare than to work for many people.


#318

Sneaky one with the old reliables. I know they traditionally go up at midnight of the Budget, but we’ve never had one mid October before.

Gov are benefiting for 2.5 months in 2013 for ‘2014’ measure of 10c fags, booze and 50c wine. Bumps the 2013 tax take a small bit


#319

No that’s not true. You would have the advantage of not partisapating in a bail in of a failed Irish bank by having your money overseas. No need for tax evasion at all.


#320

I think the only legal advantage would come if you got a higher interest rate in a foreign account. Since I’m currently getting less on my savings in the UK than here, there’s not much point shifting anything between my existing accounts and opening new ones is just too much like hard work (and might not confer any benefit anyway).

I’ll just have to save a lot more to compensate, which was Noonan’s idea, wasn’t it?

wasn’t it…? :confused: