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DIRT Tax

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  • 08-03-2011 3:55pm
    #1
    wotzgoingon
    Registered Users Posts: 14,309 ✭✭✭✭


    Hey i was just wondering, in what year did DIRT Tax come into effect and was there something similar before it. Thanks!
    Tagged:


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    #2
    nompere
    Registered Users Posts: 1,677 ✭✭✭nompere


    It was introduced by Section 31 Finance Act 1986, and 1986/87 (the year ending 5 April 1987) was the first tax year that it applied.


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    #3
    wotzgoingon
    Registered Users Posts: 14,309 ✭✭✭✭wotzgoingon


    nompere wrote: »
    It was introduced by Section 31 Finance Act 1986, and 1986/87 (the year ending 5 April 1987) was the first tax year that it applied.

    Cheers! Do other countrys have something similar or is it just our goverment ripping us off.


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    #4
    nompere
    Registered Users Posts: 1,677 ✭✭✭nompere


    The UK has a very similar system.

    DIRT isn't a rip-off. I know the deduction has increased over the last year, but paying DIRT at 25% is better than paying top rate income tax at 41%.


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    #5
    barneystinson
    Registered Users Posts: 4,683 ✭✭✭barneystinson


    wotzgoingon wrote: »
    ...is it just our goverment ripping us off.

    Try asking any of the many people in this country without any savings, or the means to generate any, if they think it's a rip off that interest earned would be taxed...! :D


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