Got an inheritance while on jobseekers.

2Mad2BeMad

Look for some part time work op
You won't have to worry about it then.
In the mean time when your pay does get cut. Give yourself 150 a week out of it to cover what you were getting.
Soon as you get a job which is fairly easy now you will be sorted.

The idea of jsa is to help you financially while you look for work.
It's not a long term plan and no one is getting screwed by it.

bladespin

Deleted User wrote: »

So he now blows it on a car, continues with JSA?
As opposed to recognising that it's a one off payment and could be used to get them out of social welfare requirements entirely, at a later date

The whole idea is to 'encourage' them to get out of the social welfare net, sooner rather than later.

godtabh

chicorytip wrote: »

It's not a lot of money, just above the annual industrial wage, so it could be frittered away easily. My advice would be don't declare it at all. It's unlikely they would ever find out about it.

Its about two years worth of the average industrial wage given its after tax

Portsalon

chicorytip wrote: »

It's not a lot of money, just above the annual industrial wage, so it could be frittered away easily. My advice would be don't declare it at all. It's unlikely they would ever find out about it.

And if he is caught, then no doubt you'll be among the first offering to give him a dig out; or visiting him in prison?

holliehobbie

holliehobbie wrote: »

You just received €69,000!! How are you screwed? I'll take it off your hands if you like!

If I had a sum of money like that, which I would consider a fortune, I would sign off immediately and restore my dignity

marko99

From recent personal experience, I can tell you that Revenue will definitely know about it. Do you think that grants of probate are conducted in secret?

Bandana boy

Deleted User wrote: »

So he now blows it on a car, continues with JSA?
As opposed to recognising that it's a one off payment and could be used to get them out of social welfare requirements entirely, at a later date

Or you know somebody who is long term unemployed in this economy and now has the means to pay for themselves we take them off the government teat

brightspark

JohnMc1 wrote: »

True, but I don't want to blow through it.

If you got a job then the inheritance wouldn't be an issue.

chicorytip

seamie78 wrote:

nearly double industrial wage and that's before taxes

godtabh wrote:

Its about two years worth of the average industrial wage given its after tax

Portsalon wrote:

And if he is caught, then no doubt you'll be among the first offering to give him a dig out; or visiting him in prison?

I think it's unfair that he should be subjected to penalties in this instance given that he appears to have no other material assets. If he were a lottery winner or inherited a very large amount, say in excess of 250,000, well then fair enough deductions ought to be applied. If he is depending on the reduced level of Jobseekers and fails to find employment within the short to medium term then the capital will be eroded very quickly indeed.

godtabh

chicorytip wrote: »

I think it's unfair that he should be subjected to penalties in this instance given that he appears to have no other material assets. If he were a lottery winner or inherited a very large amount, say in excess of 250,000, well then fair enough deductions ought to be applied. If he is depending on the reduced level of Jobseekers and fails to find employment within the short to medium term then the capital will be eroded very quickly indeed.

He has the means to support him self. That money could (and will be) spent on some one else who cant

Atlantic Dawn

marko99 wrote: »

From recent personal experience, I can tell you that Revenue will definitely know about it. Do you think that grants of probate are conducted in secret?

And additionally if it gets held in any financial institution in the State they report the DIRT on each account to Revenue each year so will know x amount of DIRT equals x amount in the account.

Maldesu

JohnMc1 wrote: »

I got €69,000 from an inheritance and I'm on jobseekers allownace. How much should I expect to lose or will they take it off me altogether?

Did you pay the inheritance tax on it, cos that will reduced that 69k right down if depending on who you got it from?

splinter65

chicorytip wrote: »

It's not a lot of money, just above the annual industrial wage, so it could be frittered away easily. My advice would be don't declare it at all. It's unlikely they would ever find out about it.

Revenue know about it because the probate office notify them. Revenue then notify SW.
There’s a set budget for SW. when people like you casually encourage others to take money that they’re not entitled too from that budget then it means that there’s less for people who are entitled.
It’s also against the charter of this forum,

tscul32

I do see the argument that it's a bit unfair, but then I think about someone on JSA getting a one year contract that pays €69k. They'd lose the JSA and be told to provide for themselves out of the €69k (which would be a good bit less after tax) that they had to work 40 hours a week to get. Suddenly it doesn't seem so unfair.
Best advice given is to use the money to get back in the game. Retrain, buy a car and a taxi plate, start low and work your way up, buy that apartment in Donegal or Leitrim and live rent free.

Homer

Deleted User wrote: »

I would sign off immediately and restore my dignity

Thats the big difference between you and the OP

splinter65

[Deleted User] wrote: »

Saying all this.

I declared my redundancy a few years back and they said that they didn't care about the first 50K. Was that just in relation to redundancies?

Yes. You were applying for benefit not allowance.

Sir Oxman

Op, congrats (I think!)

Use it to support yourself and get back in employment.

Imagine having an income and the guts of 69k in the bank as fallback.

Don't be thinking you are out of luck with this news, that's not a good look and it's not healthy mentally.

splinter65

chicorytip wrote: »

I think it's unfair that he should be subjected to penalties in this instance given that he appears to have no other material assets. If he were a lottery winner or inherited a very large amount, say in excess of 250,000, well then fair enough deductions ought to be applied. If he is depending on the reduced level of Jobseekers and fails to find employment within the short to medium term then the capital will be eroded very quickly indeed.

Your not understanding what exactly Jobseekers Allowance is.
First of all you have to bear in mind that unemployment is at an extreme low at the moment.
The OP has gone to SW and said
“I haven’t got a job and it’s so long since I had one that I haven’t enough PRSI contributions to qualify for Benefit. I need the taxpayer to give me money to live on week to week while I look for a job”.
So SW examine his finances and give him a weekly payment to cover his basic
needs. If he’s renting a place then he’s probably getting more help with his rent.
If he’s come into €70000 then he doesn’t need the taxpayer to help him with his week to week living expenses or his rent.
It’s a simple as that.

chicorytip

splinter65 wrote:

Your not understanding what exactly Jobseekers Allowance is. First of all you have to bear in mind that unemployment is at an extreme low at the moment. The OP has gone to SW and said “I haven’t got a job and it’s so long since I had one that I haven’t enough PRSI contributions to qualify for Benefit. I need the taxpayer to give me money to live on week to week while I look for a jobâ€. So SW examine his finances and give him a weekly payment to cover his basic needs. If he’s renting a place then he’s probably getting more help with his rent. If he’s come into €70000 then he doesn’t need the taxpayer to help him with his week to week living expenses or his rent. It’s a simple as that.

Alright, but if he is satisfying the main criterion for qualifying i.e. actively seeking employment, then that should be enough to draw down the full benefit. There's not a lot he's going to be able to do with that seventy grand, strange as that sounds. He won't buy a property with it because there are none available in that price range anywhere in Ireland. He can't use it to pay a deposit on a place because he has no hope of getting a mortgage and he can't rent privately if he has no job. He will not qualify for HAP either. The rules are simply absurd.

splinter65

chicorytip wrote: »

Alright, but if he is satisfying the main criterion for qualifying i.e. actively seeking employment, then that should be enough to draw down the full benefit. There's not a lot he's going to be able to do with that seventy grand, strange as that sounds. He won't buy a property with it because there are none available in that price range anywhere in Ireland. He can't use it to pay a deposit on a place because he has no hope of getting a mortgage and he can't rent privately if he has no job. He will not qualify for HAP either. The rules are simply absurd.

First of all there are several properties within that price range within 15 km of where I live and he would have enough left over for a small car which he could use to drive to the factory where my husband works that can’t get enough staff.
You are still referring to him getting “benefit”. Hes not entitled to benefit because he hasn’t made enough contribution.
Your suggesting that taxpayers should continue to give him €203 per week while he hoards €70000?
I have a better idea. We can give his €203 to people sitting up all night tonight to care for a sick loved one and he can start using his €70000 to pay for his own rent groceries electricity bill and all his other bills, same as everyone else.

irisheddie85

chicorytip wrote: »

Alright, but if he is satisfying the main criterion for qualifying i.e. actively seeking employment, then that should be enough to draw down the full benefit. There's not a lot he's going to be able to do with that seventy grand, strange as that sounds. He won't buy a property with it because there are none available in that price range anywhere in Ireland. He can't use it to pay a deposit on a place because he has no hope of getting a mortgage and he can't rent privately if he has no job. He will not qualify for HAP either. The rules are simply absurd.

First result on done deal

https://www.donedeal.ie/businessopportunities-for-sale/hairdressing-business-excellent-opportunity/22634004

He could buy a business for 70 grand. Then no need for jobseekers.

TimeToShine

JohnMc1 wrote: »

Thanks. Would these cuts be temporary? €69,000 won't last too long in this day and age.

JohnMc1 wrote: »

Thanks Cherry Blossom. Seems like I'm screwed one way or another.

By the way OP is talking he has no intention of getting a job, 70 grand would be enough for 95% of people to retrain and find employment within six months. He would be able to buy a car for commuting, pay rent, get clothes for interviews, even do another course.

JSA is designed to help people who are struggling to find work, not be played by people trying to do the opposite.

TimeToShine

chicorytip wrote: »

Alright, but if he is satisfying the main criterion for qualifying i.e. actively seeking employment, then that should be enough to draw down the full benefit. There's not a lot he's going to be able to do with that seventy grand, strange as that sounds. He won't buy a property with it because there are none available in that price range anywhere in Ireland. He can't use it to pay a deposit on a place because he has no hope of getting a mortgage and he can't rent privately if he has no job. He will not qualify for HAP either. The rules are simply absurd.

Would you stop, there are 30 year olds with PhDs who would be lucky to have 200 a week left over after rent, bills and expenses and have sweet FA in the bank. They're the ones that are funding this, why is the OP entitled to even entertain the idea of buying a house when he's on JSA? His priority should be looking for a job.

BorneTobyWilde

Eh why do you need to tell them you got it

splinter65

BorneTobyWilde wrote: »

Eh why do you need to tell them you got it

Because:
A. It’s the law.
B. As already explained, they’re going to find out anyway.
C. It’s the non-dickhead thing to do.

bladespin

BorneTobyWilde wrote:

Eh why do you need to tell them you got it

Better to tell them what they'll find out than waiting and landing in the poop.

BorneTobyWilde

bladespin wrote: »

Better to tell them what they'll find out than waiting and landing in the poop.

How do they find out?

punisher5112

BorneTobyWilde wrote: »

How do they find out?

By the means stated previously in the thread.....

hawthorne

JohnMc1 wrote: »

Thanks Cherry Blossom. Seems like I'm screwed one way or another.

You will be really screwed if you just waste the money. If you gamble it away on horses, drink it all up or spent it on some crazy lifestyle and end up with nothing within a short time they won't restore your full JSA again.

JohnMc1

endacl wrote: »

Pop it in a pension.

That's definitely something I'm looking into.