Gov. cracking down on savers who dont pay tax ??

misty76

Hello all, i heard an advert on the tv over the weekend for i think the sunday business post, i'm not sure, saying something about the government cracking down on people with savings of 20k or more who are not paying tax.. Did i hear this right or is it something to do with other taxes, can't find anything on the business post on line or any other info on the net.. Be greatful if anyone could clear up this query.. Thanks a lot in advance

Mr. Incognito

Huh?

DIRT is deducted on bank accounts at source.

Have no idea what your are talking about.

misty76

I find your tone very rude and not only on my post here but on other posts i have read of yours.. Its not very nice..

Fair enough if you don't know but maybe someone else will, that is why i posted..

Also it is up to you to declare tax on a credit union account, that is a form of savings too..

As i said basically i'm asking did anyone hear the advert on tv or radio, i wasn't taking much notice and am just curious, hopefully someone will be able to clarify..

Cheers..

Barracudaincork

Mr. Incognito wrote: »

Huh?

DIRT is deducted on bank accounts at source.

Have no idea what your are talking about.

I had noticed!

DIRT is deducted in most cases but if you meet the following criteria, you can receive the interest gross:

• Either you or your spouse (if appropriate) are aged 65 or over when making the declaration
• Your and your spouse's (if appropriate) total income for the year will be below the relevant annual exemption limit.

This annual exemption limit may be increased if you have dependent children. A dependent child is defined as one who is:

• Under 18 years of age, or
• Over 18 years of age and in full-time education, or training full-time as an apprentice where the training is for at least two years, or
• Incapacitated either physically or mentally, having become so before reaching 21 years of age or after reaching the age of 21 but while still in full-time education or while training full-time for a trade or a profession for a minimum of two years.

misty76

http://www.thepost.ie/post/pages/p/story.aspx-qqqt=MONEY-qqqm=nav-qqqid=41738-qqqx=1.asp


I found what i was looking for, lol.. Curiosity killed the cat, eh? Cheers Barracudaincork for your help..

K-9

misty76 wrote: »

Hello all, i heard an advert on the tv over the weekend for i think the sunday business post, i'm not sure, saying something about the government cracking down on people with savings of 20k or more who are not paying tax.. Did i hear this right or is it something to do with other taxes, can't find anything on the business post on line or any other info on the net.. Be greatful if anyone could clear up this query.. Thanks a lot in advance

I don't know if a single premium life assurance is a savings product though! (Feel free to reply with I don't know what a tracker mortgage is type quote!:o)

Mr. Incognito

Good that that's cleared up.

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