Why must you pay property tax if you were taxed on the money earned to buy the house?

armabelle wrote: »

jesus 33%! So you work all your life to buy a house for my kids so they have to pay back 33% of it when they inherit it? Surely that can't be right?

Do you by any chance know what kind of reliefs / exemptions there are?

33% on any amount over 280k per child beneficiary.

Many beneficiaries of wills pay zero CAT.

Sh1tbag OToole wrote: »

Because Europe wants us to pay property tax.

It's a load of b0ll1x but this tax was foisted upon us by Europe and our TD's went along with it. The reason for it I suspect was that during the bailout some EUrocrat stood up and said "Look at those feckers! They don't even pay property tax, let them agree to bring that in first, then we'll talk" or else it's all part of a much deeper tax harmonisation conspiracy part of the great European Project to make the EU one big country.

We had a property tax in the form of 'household rates' until that nice man Jack Lynch abolished the tax to win an election and put FF back in power. Well who would reject gifts except those who were wary of 'the Greeks bearing them! We are back where we were.

relax carry on wrote: »

What organisations deliberately set out to defraud people? Also individuals deliberately setting out to defraud people are committing an offence, have you informed the relevant authorities?

Many. Food companies, banks, investment funds, politicians. I mean do you know that they are pumping your chicken breast full of water and selling them to you but it is perfectly legal?

And no. No informing is neccesary, the "authorities" are quite happy with the current set-up.

Do you not read the news? Panama papers anyone?

Pro Hoc Vice wrote: »

The bailout deal involved the IMF last I looked that was not a body of the EU. The Trokia has been blamed for a lot when it only set budget targets it was up to Ireland how it achieved same. It was lazy politicians who simply said to any difficult choice blame the EU.

Nobody is lazy when it comes to making profit. People know what they are doing. Laziness is far more acceptable than this.

KlausFlouride wrote: »

The problem is starting to be tackled globally, the existing Corporation Tax rules on residency and so forth are being reviewed, and will change quite soon. In Ireland's case, it may be a case of be careful what we wish for. The likes of Google etc are not breaking the current tax rules, bear that in mind when politicians (who could change the laws) speak on the subject. Also, CT is paid on profits, not sales revenue which is often thrown around as the figure tax should be paid on, companies like Amazon made no profits for years, but ploughed back in money to build the business.

In Ireland, large corporations pay rates (a from memory 120k sq ft building paid c100k rates per annum) and employee PRSI @ 10.75%, so the headline CT rate is not the only tax they pay.

Large corporations in of themselves are not the problem, delinquent, irresponsible governments who have adopted a hands off attitude to any difficult issues and allowed the cost of living to get out of control are a much bigger factor (housing/health/pensions).

not at all, its been made to look like these corporations are squeaky clean and that government are the bad guys. this isnt the case and theres many commentators explaining in great detail how that is. our governments do have a lot to answer for though but i think they are being dictated to mainly by the financial sector

use to work for a large american company. the financial manager told me that they ll never leave ireland due to our tax regime, even though that particular business has 'never' made a profit in its 30 odd years of being in our country! somethings wrong there! that particular business has produced very little in the last few years, has let some people go but has kept many on. most are just sitting around, cleaning and painting the place, and making it look like they are being trained, so that they can avail of training grants from the government. im sure theyre not the only business do this. it must be very easy to make it look like a business is making little or no profit

if we are starting to tackle corporation taxes globally, im not seeing it. theres so many loop holes in that game, it may never be solved. i believe our living costs have spiraled out of control largely due to behavior in our financial sectors, or as michael hudson calls, the 'fire' sector. this is a big problem of which again, nobody really knows how to tackle. its getting very complicated and very messy

KlausFlouride wrote: »

Corporation Tax in the process of being looked at globally, the BEPS project. It's to revise the old OECD rules that came about in the 50s/60s when industries were simpler in terms of sales/headquarters/centres of production. There will be changes due to flagrant abuses in places like Luxembourg & so forth, as countries like the US is lose out on CT.

I'm don't see the reason behind "living costs have spiraled out of control largely due to behavior in our financial sectors". Even if the banks hadn't gone wallop in 2008 for instance, Ireland would have had to go to the IMF/EU for a bailout. The behaviour of banks/MNCs is often reprehensible, but they're doing what they're allowed to do by negligent governments, not just here but in the UK and US. Governments have intervened in the past to curb the worst excesses of capitalism (worker rights/pensions/paid holidays/capped working weeks), but increasingly they have absolved themselves of responsibility in this area. The goal of a business is to make money, the goal of a democratic government should be to grow a fair and just society, it's two entirely different sets of responsibilities.

some good points there alright, i particularly like and agree with your final point, but i think we in a very dangerous era whereby our financial sector is now dictating to our governments on how we should run our countries. handing our monetary systems over to a largely privately owned financial system is proven to be very dangerous and is causing serious problems for us all. our monetary systems should be publically owned and run for the greater good of society but this is not the case as it stands.

dar100 wrote: »

It's a lot of the people who make the laws, that are the problem.. who do you report them to? You cant be outside the law if your making the law

Welcome to democracy - you get the government (and the laws) the majority vote for. What's your alternative?