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Farm Assist + Shares

  • 07-03-2015 1:10pm
    #1
    Backfire
    Registered Users, Registered Users 2 Posts: 541 ✭✭✭


    Hi,

    When farm assist is being means tested, to what value of shares that you own, do they take into account?

    For example, I have seen a table based on assessed capital (including shares) for farm assist means test and the table only goes as far as having shares or other property to the value of 'Over €40,000' and that this would be regarded as having an extra €20/week income. So if a person has say...€200,000 worth of shares, is this still only considered as being in the 'Over €40,000' category and thus €20 extra per week as income?

    any info on this matter would be greatly appreciated,

    thank you.


Comments

  • #2
    eastbono
    Registered Users, Registered Users 2 Posts: 2,758 ✭✭✭eastbono


    This is how capital is assessed.

    Capital
    Income from capital includes property, savings and investments. If you own property that you are not personally using or you have investments or any other form of capital, the value is assessed, using a special formula. You may or may not be getting an income from the property or investment.

    The value of capital is assessed as follows:

    The first €20,000 of the capital is disregarded
    €20,000 to €30,000 is assessed at €1 for every €1,000
    Next €10,000 is assessed at €2 per €1,000
    Excess of €40,000 is assessed at €4 per €1,000
    The assessment only applies to units of €1,000. Therefore all amounts should be rounded down to the nearest €1,000. For example if you have €38,400 in the bank, the first €20,000 is disregarded, €10,000 is assessed at €1 per €1,000, which is €10 and the remaining €8,000 is assessed at €2 per €1,000, which is €16 per week. So your income from capital is €26 per week or €1,352 per year.


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