Budget 2019

thomas 123

BarryD2 wrote: »

In that case, you could be looking at 10 years to bring betting tax to a decent level. It really is gobsmacking that such wasteful expenditure is only currently taxed at 1%. Betting is a luxury activity and should attract same rates of taxation as all similar activities.

is the 2% on winnings though? surly the local paddy power doesn't just pay 1% now 2% on profits?

thomas 123

thomas 123 wrote: »

Anyone able to do the before and after on a salary of 30K?

Calculator not up yet but try in a while

https://www.google.ie/amp/s/amp.irishexaminer.com/breakingnews/business/how-will-the-budget-2019-affect-you-find-out-with-our-budget-calculator-provided-by-kpmg-874358.html

ednwireland

thomas 123 wrote: »

Anyone able to do the before and after on a salary of 30K?

kpmg should have a calculator up soon

thomas 123

Strawberry Milkshake wrote: »

Calculator not up yet but try in a while

https://www.google.ie/amp/s/amp.irishexaminer.com/breakingnews/business/how-will-the-budget-2019-affect-you-find-out-with-our-budget-calculator-provided-by-kpmg-874358.html

Bookmarked thank you!

Gumbo

seamus wrote: »

Kind of disappointed they didn't go for something radical like the abolition of VRT on electric vehicles and a five-year suspension of motor tax for them, along with increasing VRT and motor tax on all other vehicles.

VRT is all but non existant on EV's unless your buying a 100k Tesla.
I brought in my 2014 EV last year and VRT was 0. Granted its capped at a AMSP of 37k or thereabouts, but for the average Joe buying a car or importing one that's fair enough. If you have the money for a 100k Tesla, then you still get the allowance up to the 37k and only pay on the balance.

TitianGerm

thomas 123 wrote: »

Anyone able to do the before and after on a salary of 30K?

You'll be about €40/50 better off for the year. The increase in the tax band won't affect you so the only benefit you'll see if from the USC changes.

codrulz

codrulz wrote: »

the only real problem I have with this budget is that tax on betting only rose to 2% I think that is criminally low. Gambling is a dangerous and addictive activity scourging many people. It is akin to alcohol and cigarettes and should be levied as such.

The bookmakers will pay it on behalf of the customer as they do now with the 1%.

TitianGerm

TitianGerm wrote: »

You'll be about €40/50 better off for the year. The increase in the tax band won't affect you so the only benefit you'll see if from the USC changes.

So .96cent per week better off. Woohoo Thomas, the drinks are on you!

Pete_Cavan

Captain Obvious wrote: »

Amirani wrote: »

Lots of people want it. Complete embarrassment that our country performs so badly in environmental metrics. If you give a damn about our environment and future generations, then you'll be supportive of measures that reduce the damage we're doing to it.

Will a carbon tax help? I have to travel the same distance to work no matter how much the fuel costs. I'd rather see them make economical cars much more attractive.

You mean like increasing tax on carbon creating fuel thereby making less polluting cars or alternative fuel types more attractive?

thomas 123

Strawberry Milkshake wrote: »

So .96cent per week better off. Woohoo Thomas, the drinks are on you!

Id arrange a house party but Ill never own one.

ShaneC93

thomas 123 wrote: »

Anyone able to do the before and after on a salary of 30K?

A single earner on €30K will be ~€40-45 better off while a single earner on €70K will be ~€275-€290 better off. (No kids, no medical card, no property)

thomas 123

thomas 123 wrote: »

is the 2% on winnings though? surly the local paddy power doesn't just pay 1% now 2% on profits?

It's currently 1% on the stake.
A €10 bet should cost €10.10...the bookmaker takes 10 off the customer and pays the 1% betting tax on their behalf.

Paddy Power profits taxation is nothing to do with betting tax.

ArmaniJeanss

Gambling is different because of repeat money that alcohol, clothes etc don't have.
e.g., I bring €100 into the bookies on a Saturday morning and could quite reasonably get €1000+ worth of bets out of it without ever being significantly 'up'.
So my effective tax rate on the original €100 is far above 1% as I'll be paying those repeat 1%s all day.
The savage increases on t/o tax suggested here (10%, 23%) etc basically kill it stone dead. Hell the bookies couldn't even possibly make money on those terms.

So with respect it's one of those where you actually have to grasp the economics of the industry before throwing tax rates about.

lawred2

seamus wrote: »

For the average household, it's considerably more than the €5 a week for dole recipients.

you've got that wrong definitely

I worked it out yesterday - you'd need a salary of about 65k to match the increases in the dole

That is a kick in the teeth for the vast majority of people on this island.

thomas 123

Augeo wrote: »

It's currently 1% on the stake.
A €10 bet should cost €10.10...the bookmaker takes 10 off the customer and pays the 1% betting tax on their behalf.

Paddy Power profits taxation is nothing to do with betting tax.

Thanks for the clarification! It wont affect me at all but I was just curious were the 1% was applied.

thomas 123

thomas 123 wrote: »

Thanks for the clarification! It wont affect me at all but I was just curious were the 1% was applied.

No problem.
It's a weird one. Most punters don't know about it..... not to mind anyone else

Captain Obvious

Pete_Cavan wrote: »

You mean like increasing tax on carbon creating fuel thereby making less polluting cars or alternative fuel types more attractive?

That's great and all but I don't have 20 odd thousand to switch to one of those cars. And i doubt I am alone in that.

VinLieger

My household is up 450 quid a year or 38 quid a month..... whooop deee f*cking dooooo

Assetbacked

Bring on the next election.

Sleepy

Why are they bandying around the €5 a week figure. In reality, most on welfare have dependents, so thus there'll be a combination of:

€5 for the main claimant (198 -> 203)
€3.30 for a spouse / partner (131.4 -> 134.7)
€2.20 for each child under 12 (31.8 -> 34)
and €5.20 for each child over 12 (31.8 - 37)

For the "average" family of Mother, Father and two kids, that works out to €15.70 pw increase
A single parent with two kids works out to a 12.40 p/w increase

Adding the Christmas bonus (of a full weeks payments at €408.70) the nuclear family on welfare is seeing an increase of €23.48 p/w (or €1,221.10 per annum) after Budget 2019 while the single parent family with two kids on welfare (with a bonus payment of €274) is actually seeing an increase of €17.66.

This isn't a budget for the "squeezed middle", it's a budget for welfare recipients.

A single income family of the same nuclear makeup now needs an after-tax salary of €21,661.10 to match their unemployment benefits. Add in HAP/Social Housing and ancilliaries (back to school allowance etc) and it's making a mockery of anyone trying to raise a family on less than €50k per annum.

EDIT: Corrected the increase to account for chasm's correct RE dependent benefit increase being €3.30 rather than €5

van_beano

Strawberry Milkshake wrote: »

So .96cent per week better off. Woohoo Thomas, the drinks are on you!

That is a disgrace. They put up Welfare rates and give a little back to the higher paid works but completely shaft the lower paid workers!

ednwireland

44 euro a year better off according to kbc calculator !

TitianGerm

Sleepy wrote: »

Why are they bandying around the €5 a week figure. In reality, most on welfare have dependents, so thus there'll be a combination of:

€5 for the main claimant (198 -> 203)
€5 for a spouse / partner (131.4 -> 136.4)
€2.20 for each child under 12 (31.8 -> 34)
and €5.20 for each child over 12 (31.8 - 37)

For the "average" family of Mother, Father and two kids, that works out to €17.40 pw increase
A single parent with two kids works out to a 12.40 p/w increase

Adding the Christmas bonus (of a full weeks payments at €410.40) the nuclear family on welfare is seeing an increase of €25.29 p/w after Budget 2019 while the single parent family with two kids on welfare (with a bonus payment of €274) is actually seeing an increase of €17.66.

This isn't a budget for the "squeezed middle", it's a budget for welfare recipients.

There should be no situation where someone recieving welfare should recieve a better outcome from a budget than anyone working.

It just creates a feeling of anger in those working.

If the likes of Thomas on €30k is €1 a week better off how can you justify giving someone on Welfare €5 a week? Thomas is up 5/6 days a week working 8+ hours a day and will have incedential costs to being employed (travel etc), he contributes €4,600 in tax in 2018 and has a net wage of €25,400. €1 is a f**king insult.

It is mind boggling to say the least.

JP Liz V1

Is the medical card charges for prescriptions coming down?

van_beano

Sleepy wrote: »

Why are they bandying around the €5 a week figure. In reality, most on welfare have dependents, so thus there'll be a combination of:

€5 for the main claimant (198 -> 203)
€5 for a spouse / partner (131.4 -> 136.4)
€2.20 for each child under 12 (31.8 -> 34)
and €5.20 for each child over 12 (31.8 - 37)

For the "average" family of Mother, Father and two kids, that works out to €17.40 pw increase
A single parent with two kids works out to a 12.40 p/w increase

Adding the Christmas bonus (of a full weeks payments at €410.40) the nuclear family on welfare is seeing an increase of €25.29 p/w after Budget 2019 while the single parent family with two kids on welfare (with a bonus payment of €274) is actually seeing an increase of €17.66.

This isn't a budget for the "squeezed middle", it's a budget for welfare recipients.

A single income family of the same nuclear makeup now needs an after-tax salary of €21,751.20 to match their unemployment benefits. Add in HAP/Social Housing and ancilliaries (back to school allowance etc) and it's making a mockery of anyone trying to raise a family on less than €50k per annum.

That's a fantastic post, Sleepy. It should be e-Mailed to every TD to outline the unfairness in this budget.

There is no way the likes of AAA, PBP, Solidarity, Sinn Fein can be in any way critical of this budget.

Fr Tod Umptious

Amirani wrote: »

Lots of people want it. Complete embarrassment that our country performs so badly in environmental metrics. If you give a damn about our environment and future generations, then you'll be supportive of measures that reduce the damage we're doing to it.

With age people so down on future generations ?

Will they not have the intellect, the technology, the knowledge to adjust to a changing climate?

Why do we have to do it for them?

Alf Veedersane

Fr Tod Umptious wrote: »

[/b]

With age people so down on future generations ?

Will they not have the intellect, the technology, the knowledge to adjust to a changing climate?

Why do we have to do it for them?

Probably because they won't be able to go back in time.

Cork Boy 53

van_beano wrote: »

That's a fantastic post, Sleepy. It should be e-Mailed to every TD to outline the unfairness in this budget.

There is no way the likes of AAA, PBP, Solidarity, Sinn Fein can be in any way critical of this budget.

If you believe that you must still believe in Santa Claus. Wait a little while until those parties`spokespeople make their speeches in the Dail and they will be making plenty of attacks on the Govt.

Cork Boy 53

Fr Tod Umptious wrote: »

[/b]

With age people so down on future generations ?

Will they not have the intellect, the technology, the knowledge to adjust to a changing climate?

Why do we have to do it for them?

Which smacks of an "I`m all right Jack, **** everyone else" attitude.

ThunbergsAreGo

Sleepy wrote: »

Why are they bandying around the €5 a week figure. In reality, most on welfare have dependents, so thus there'll be a combination of:

€5 for the main claimant (198 -> 203)
€5 for a spouse / partner (131.4 -> 136.4)
€2.20 for each child under 12 (31.8 -> 34)
and €5.20 for each child over 12 (31.8 - 37)

For the "average" family of Mother, Father and two kids, that works out to €17.40 pw increase
A single parent with two kids works out to a 12.40 p/w increase

Adding the Christmas bonus (of a full weeks payments at €410.40) the nuclear family on welfare is seeing an increase of €25.29 p/w after Budget 2019 while the single parent family with two kids on welfare (with a bonus payment of €274) is actually seeing an increase of €17.66.

This isn't a budget for the "squeezed middle", it's a budget for welfare recipients.

A single income family of the same nuclear makeup now needs an after-tax salary of €21,751.20 to match their unemployment benefits. Add in HAP/Social Housing and ancilliaries (back to school allowance etc) and it's making a mockery of anyone trying to raise a family on less than €50k per annum.

There really isn't anyone for the squeezed middle to vote for (and great post)

Cork Trucker

I think some people have taken exception to my tweet, it's a pity i'm only on a short break while my truck is being loaded, might get time to reply tonight.

https://twitter.com/CorkTruckDriver/status/1049640011778465792

van_beano

Cork Boy 53 wrote: »

If you believe that you must still believe in Santa Claus. Wait a little while until those parties`spokespeople make their speeches in the Dail and they will be making plenty of attacks on the Govt.

Oh I know they'll be criticising it and not on behalf of the those that get up in the morning and go out to work. Why oh why can't we have someone in Government who can stand up for the regular worker out there and call this budget for what it is - a Social Welfare budget.

Amirani

van_beano wrote: »

That's a fantastic post, Sleepy. It should be e-Mailed to every TD to outline the unfairness in this budget.

There is no way the likes of AAA, PBP, Solidarity, Sinn Fein can be in any way critical of this budget.

https://twitter.com/paulmurphy_TD/status/1049649939159101440

:rolleyes:

chasm

Sleepy wrote: »

Why are they bandying around the €5 a week figure. In reality, most on welfare have dependents, so thus there'll be a combination of:

€5 for the main claimant (198 -> 203)
€5 for a spouse / partner (131.4 -> 136.4)
€2.20 for each child under 12 (31.8 -> 34)
and €5.20 for each child over 12 (31.8 - 37)

For the "average" family of Mother, Father and two kids, that works out to €17.40 pw increase
A single parent with two kids works out to a 12.40 p/w increase

Adding the Christmas bonus (of a full weeks payments at €410.40) the nuclear family on welfare is seeing an increase of €25.29 p/w after Budget 2019 while the single parent family with two kids on welfare (with a bonus payment of €274) is actually seeing an increase of €17.66.

This isn't a budget for the "squeezed middle", it's a budget for welfare recipients.

A single income family of the same nuclear makeup now needs an after-tax salary of €21,751.20 to match their unemployment benefits. Add in HAP/Social Housing and ancilliaries (back to school allowance etc) and it's making a mockery of anyone trying to raise a family on less than €50k per annum.

Great post, which i totally agree with, but the spouse/partner weekly increase is €3.30 not €5 though.

James Brown

Sleepy wrote: »

..

This isn't a budget for the "squeezed middle", it's a budget for welfare recipients.

..

van_beano wrote: »

That's a fantastic post, Sleepy. It should be e-Mailed to every TD to outline the unfairness in this budget.

There is no way the likes of AAA, PBP, Solidarity, Sinn Fein can be in any way critical of this budget.

A budget for welfare recipients? Good job we've Fine Gael in so...wait, who's budget is this?

Is the idea the AAA, PBP, Solidarity aren't happy with the government making a budget for welfare recipients?
It gets confusing. You would think the AAA, PBP, Solidarity and friends didn't only want free houses and more dole money.
Then we've very low unemployment, so it kinda pales in comparison to the spend on the housing crisis.

I would wager FG are throwing 'the lefties' a bone so they can keep looking after their own as a main course.

average_runner

Amirani wrote: »

https://twitter.com/paulmurphy_TD/status/1049649939159101440

:rolleyes:

People on social welfare could always work, just an idea. Dont mind the old age getting the rise

James Brown

van_beano wrote: »

Oh I know they'll be criticising it and not on behalf of the those that get up in the morning and go out to work. Why oh why can't we have someone in Government who can stand up for the regular worker out there and call this budget for what it is - a Social Welfare budget.

Why indeed. Let's keep voting Fine Gael until that happens...

average_runner wrote: »

People on social welfare could always work, just an idea. Dont mind the old age getting the rise

Those people don't get welfare.
I love the way bad government policy gets put on members of the public with no control over such things. If I give you fifty quid tax payer money is it your fault or mine?

ThunbergsAreGo

Matt Barrett wrote: »

Why indeed. Let's keep voting Fine Gael until that happens...

For who???

Hurrache

Can't verify the figures, but someone worked it out
https://twitter.com/skearon/status/1049668190828158976

Edit: Just noticed that guys biography, former government special adviser and FF member, so presumably has a bit of weight behind it, despite a whiff of scandal in his past.

Sleepy

chasm wrote: »

Great post, which i totally agree with, but the spouse/partner weekly increase is €3.30 not €5 though.

Thanks for the input, I've edited the post accordingly.

Mr.David

Can anyone confirm the HRI is not being extended beyond the end of 2018?

ednwireland

Mr.David wrote: »

Can anyone confirm the HRI is not being extended beyond the end of 2018?

was wondering that myself got works in there and hopefully a bit more before december, everything ive read says it finishes end dec 2018

James Brown

naughtb4 wrote: »

For who???

I was in a similar quandary. I decided not FF, so I filter out depending on who's running and what they say they'll do. Can't bring myself to vote for a party with a track record of not doing good by the tax payer on the chance others might be the same or worse. I'd rather vote for the off chance I might get a kick in the balls, than vote knowing I'll definitely get a kick in the balls.

From what I can see FG are looking to continue as is with this budget. Screaming 'the economy is doing great' with their fingers in their ears.

Eric Cartman

Amirani wrote: »

https://twitter.com/paulmurphy_TD/status/1049649939159101440

:rolleyes:

jaysus, they'd whinge out of anything.

This is the most socialist budget we've seen in a long time, everything for those who don't work, crumbs for those who do.

Busi_Girl08

Mr.David wrote: »

Can anyone confirm the HRI is not being extended beyond the end of 2018?

Confirmed. No mention of it today so it's out by 31st of December.

James Brown

This is a waste of money:

Housing
€1.25bn allocated for the delivery of 10,000 new social homes through a combination of construction, acquisition and leasing.

Rental Sector

Mortgage interest relief for landlords will rise to 100% from January 1.

Looks like we'll be trying to buy our way out of the housing crisis. The economy will do great out of this, the tax payer, not so much.

ednwireland

Eric Cartman wrote: »

jaysus, they'd whinge out of anything.

This is the most socialist budget we've seen in a long time, everything for those who don't work, crumbs for those who do.

its ok the magic money tree will pay for everything

van_beano

Any word on the Mortgage Interest Relief? Has it been cut to 50% has had been said before hand? Didn't see anything about it on the news sites.

Edit: I see it was already dealt with in the previous budget, being knocked down by 25% each year until it's gone altogether by January 2021

CrabRevolution

van_beano wrote: »

That's a fantastic post, Sleepy. It should be e-Mailed to every TD to outline the unfairness in this budget.

There is no way the likes of AAA, PBP, Solidarity, Sinn Fein can be in any way critical of this budget.

I'm not sure what thread it was but someone posted PBPs "budget" yesterday and it was all magical money tree stuff; enormous social welfare increases, doubling the dole payment for under 26s, free public transport for all, bringing pensions up to 250 per week, scrapping the USC, building €3.5 billion euro worth of social housing in one year, spending a quarter of a billion euro on the Western Rail Corridor, across the board public sector pay increases etc.

Hulk Hands

codrulz wrote: »

the only real problem I have with this budget is that tax on betting only rose to 2% I think that is criminally low. Gambling is a dangerous and addictive activity scourging many people. It is akin to alcohol and cigarettes and should be levied as such.

Quin_Dub wrote: »

It should certainly be taxed at at least the same level as tourism - I don't think 13.5% should be a problem for anyone on gambling..

The amount of people thanking these posts really show how clueless the vast majority of the population are about gambling. It's 2% of turnover. A bookmaker can expect to 5-6% if they're lucky in revenue before overheads. A 13.5% tax would make every bookmaker in the country instantly loss making.

Maybe you're reffering to revenue? Well a 13.5% tax on revenue is less than the bookmakers have already been paying for the past number of years. And now thats been doubled in an idiotic move that will only serve to remove competition from the market. Most small and independent bookmakers will close and there will be job losses. Ladbrokes may leave Ireland seeing further job losses. Plenty of UK bookmakers won't renew their Irish online licenses leaving Irish consumers with 2-3 options legally. Of course, illegal gambling with no tax being paid will increase