Is anyone else starting to become a bit excited?

JJJJNR wrote: »

tokenisation of a car, makes sense, tesla have said they would prefer if their cars were running 24/7 ie. One car shared between 10 family's going 24/7 might suit a lot of people right now.

Lol, I think the arse just fell out of any kind of "sharing" scheme in recent weeks dont you?

JJJJNR wrote: »

True that could be overcome simply with having a car that self sanitizes itself with UV light for the next user.

Self sanitising using the blockchain as a permanent record that the car was sanitised. Perfect use case for IOTA. The blockchain.

aido79 wrote: »

Iota doesn't use blockchain. It uses tangle.

Don't feed our resident troll. He's been eerily quiet the last while. Must be a dose of covid.

The rate is 0% in NZ

Addison Fancy Macrame wrote: »

On another note, can anyone confirm the CGT rate payable in UK, specifically Northern Ireland?

I live near the border and I am finding a figure of 10%, which seems too good to be true.

Germany, Malta, Portugal & Switzerland are options but naturally, have a look at the fine print with particular consideration of domicile vs. tax residency. In the case of Northern Ireland, it depends on your income - so it could be either 10 or 20% - with an initial tax free allowance of £12,000.

Arrival wrote: »

Even just the UK's setup is way, way better than ours. 20% is obviously still fairly high but combined with that threshold is at least not a total slap in the face like our own setup. 33% on profits after only €1,270 - I actually get mad even just typing that out, it's outrageous! It's blatantly a **** you to any people in this country who work hard enough to establish themselves in life enough to actually invest their savings, which have already been taxed.

If we wanted to move to one of those favourable countries, it's 3+ years we need to be non-resident in Ireland before we're considered domiciled in them right?

As far as I am aware, the domiciled becomes a practical reality as soon as you have a local utility bill and can register your address as being local with financial institutions. I emphasise 'practical', as I know Revenue have other high-handed ideas they can't enforce.

Arrival wrote: »

That'd be great if it's definitely the case. It's just frustrating because I would ideally like to do everything right by revenue, you'd be a bit worried in case there's some kind of setup between Member States. Obviously outside of Europe is a different story

Here is my take on it: The Common Reporting Standard (CRS) works by financial institutions sending details of large deposits and potential income events, to the taxation authorities where the account holder is resident. It is entirely address based. As soon as you are able to change the account's address to a local one, there is no CRS and reporting ceases.

So if I were to move to NZ and then rent or buy a property and get a utility bill or two to satisfy financial institutions that I was physically resident in the country - there is no CRS. This of course doesn't change Revenue's belief they have dibs on all capital gains you might have for the next 3 years, but it does mean they aren't going to find out about them and you can do as you please so long as you comply with local tax law.

Lex Luthor wrote: »

just move to the curragh camp, apparently its a tax haven

Over my head, I'm afraid. Thanks for the suggestion, but apart from a reasonable taxation system, I want want some fekin sunshine and warmth again.

Lex Luthor wrote: »

any chance of a drop in the CGT in the next govt or govts is gone now with the economy going into meltdown in the next 18months

I'm not even sure why it was necessary in the first place - seeing as it seems they can just print off magic money as needed :-D

GooglePlus wrote: »

40% is madness when you think about it.

Just under half of a profit made goes bye bye, it would make you sick to your stomach driving home, avoiding every pothole on the road.

Why stop there? Ireland has the highest inheritance taxes in the world. What other country have you ever heard of that taxes income from bank interest at 41%?. Then there's VAT at 23% - again, one of the highest rates in the world.

I think the only thing stopping a water-rates style revolution in this country is that most economic indicators are calculated and reported on as a percentage of GDP, which in Ireland is massively inflated by US multinationals.

This GDP smokescreen is the saviour of Irish governments; personal taxation appears low as it's almost always reported as a percentage of GDP. Similarly, it makes the government look good on spending; Hey look, Ireland has one of the highest expenditures on healthcare in the OECD, as a percentage of GDP.

The government can't lose so long as it's always a percentage of GDP. On the one hand it makes it look as if they aren't robbing people blind while on the other hand it makes them look like big spenders.

As far as I can ascertain, all the money actally goes on having a public sector with an average salary of €80,000 a year, the second highest in the EU, after Luxembourg.

Yes, I admit to being triggered.