schmittel wrote: » A link would be helpful?
Villa05 wrote: » You do regularly post about the attractive returns for these Reits. These returns are partly a product of not having to pay for inputs provided by the state. It is only fair and proper that they make a contribution to cover that cost. Private landlords are taxed quiet heavily
awec wrote: » https://councilmeetings.dublincity.ie/mgConvert2PDF.aspx?ID=30657
schmittel wrote: » Interestingly they exceeded their target for 2019 acquisitions by over 100%. I wonder will they have exceeded again given that the Minister told them to ramp up their buying - Minister tells councils to buy up properties as social housing target 'will not be achieved'
Graham wrote: » Acquisitions do look like they're exceeding targets by about 250 units per year for a total of 500 - 600 units p.a. Looks like there are currently 335 acquisitions in the pipeline.
JimmyVik wrote: » I wonder what that will do for the average person looking to buy a home.
awec wrote: This way gave them political cover, while also giving those on the scheme a tangible benefit, especially for the "squeezed middle" who very rarely see much direct benefit for their taxes. People bought a house 1/2/3 years ahead of schedule, at a price likely higher than they would have paid, but offset against 1/2/3 years worth of rent.
Villa05 wrote: » The squeezed middle are squeezed directly as a result of poor policies like this. It drives up house prices. It would be foolish and mis leading to deduct that there is a benefit The lower to middle income (and ABOVE) young workers are crushed with rents far higher than a mortgage with the beneficiaries of those rents increasingly contributing nothing to this state. The renters have been economically neutralised so scope for rasing taxes from this group has been wiped out. As 50% and growing of total rents including corpo let's are state subsidised, those getting grants will have to pay more or forego potential income tax cuts as the grant they received pushed up prices and rents further In addition the high cost of property and services that require property (childcare) means workers on lower incomes are less likely to have children or have less children meaning less people to cover the ballooning pensions crisis Then we get this right left divide with scapegoats being blamed for all society's ills and as a result we get the worst policies from the right/left rather than policies that are best for the country be they right or left leaning (they do exist you know) Yes there may be some initial benefit from ftb grants, but deep down they even know that they will pay for it many times over. The only true beneficiary are the speculators land hoarders and developers. The casino has been rigged for their benefit .................... In other news our debt per head of population is 75% above the EU average Source Irish Times
Villa05 wrote: » The squeezed middle are squeezed directly as a result of poor policies like this. It drives up house prices. It would be foolish and mis leading to deduct that there is a benefit The lower to middle income (and ABOVE) young workers are crushed with rents far higher than a mortgage with the beneficiaries of those rents increasingly contributing nothing to this state. The renters have been economically neutralised so scope for rasing taxes from this group has been wiped out. As 50% and growing of total rents including corpo let's are state subsidised, those getting grants will have to pay more or forego potential income tax cuts as the grant they received pushed up prices and rents further In addition the high cost of property and services that require property (childcare) means workers on lower incomes are less likely to have children or have less children meaning less people to cover the ballooning pensions crisis Then we get this right left divide with scapegoats being blamed for all society's ills and as a result we get the worst policies from the right/left rather than policies that are best for the country be they right or left leaning (they do exist you know) Yes there may be some initial benefit from ftb grants, but deep down they even know that they will pay for it many times over. The only true beneficiary are the speculators land hoarders and developers. The casino has been rigged for their benefit ....................In other news our debt per head of population is 75% above the EU average Source Irish Times
PropQueries wrote: » Also in other news. According to the Irish Times today: "EU poised to affirm tax on tech giants if global agreement fails. Leaders are working towards consensus, but EU ready to take unilateral action if needed. European Union leaders are poised to affirm their commitment to a unilateral tax on tech giants if they fail to agree on a global framework with partners, including Joe Biden’s US administration, by the middle of this year." There's so many fires we have to fight this year, it will take a significant luck of the Irish to come out the other side with a quick return to an economy that looks anything like 2019 IMO There may also be a quick reversal of any approved or soon to be approved housing measures (which appear to be primarily on the demand side of the equation) if the government finances do take an abrupt turn IMO Link to Irish Times article here: https://www.irishtimes.com/business/economy/eu-poised-to-affirm-tax-on-tech-giants-if-global-agreement-fails-1.4505268
awec wrote: » This is interesting, you were absolutely convinced this time last week that OECD was guaranteed to completely screw us. All not going so rosy on the tax change front it seems. Who would have thought it?
PropQueries wrote: » Well, that's the EU on board On Sunday, the Sunday Times reported that: "Rishi Sunak has enlisted America’s support to launch an international campaign to raise taxes on online companies such as Amazon that have cashed in on the coronavirus pandemic. The chancellor plans to use the G7 summit, which Britain is hosting in June, to push for changes to global laws so he can increase taxes on internet firms. Sunak revealed he had already had talks with Janet Yellen, the US Treasury secretary." So, that's the UK also on board. Let's see if the USA gets on board? Link to Sunday Times article here: https://www.thetimes.co.uk/article/rishi-sunak-recruits-us-to-raise-taxes-on-internet-giants-z9qtstdln
awec wrote: » It's the EU Commission affirming commitment to tax change. They can affirm commitment all the want, it would be odd if they did anything else given their messaging in recent years. There's a chasm between talking the talk and walking the walk as it seems they are finding out.
Subutai wrote: » You would be foolish to assume that the Commission’s pronouncements equal the EU being on board. Any real change in tax regulation will require unanimous approval at Council.
PropQueries wrote: » What's more foolish? The state spending money we may not have in 12 months on demand side housing policies or the state pulling back until the cloud clears and seeing if there's a cheaper way of resolving the housing "crisis"? I think the housing "crisis" has already been resolved and the state is fighting the war from three years ago. They're introducing very expensive demand side housing policies at a time when we may not either need them or be able to afford them IMO
Hubertj wrote: » https://www.irishexaminer.com/property/commercial/arid-40240229.html Good news for commercial property but also the jobs front in the cork region. Further demonstrates apples commitment to Irish operations. Also strange they would continue to invest and expand Irish operations when a tax apocalypse is due to hit Ireland. Could it be they have already factored tax changes into their plans? Would large MNCs with dedicated tax teams have the forethought to factor this into their future plans? Amazing thought. I fear they haven’t checked board.ie and are making a terrible terrible mistake.
awec wrote: You are overthinking it. Most people who want a house don't give a crap about any of this.
awec wrote: » I see that British overseas territories are officially the top 3 worst tax havens.https://www.theguardian.com/business/2021/mar/09/uk-overseas-territories-top-list-of-worlds-leading-tax-havens I wonder if Rishi Sunak's new focus on raising taxes, which we hear is going to be trend-setting for worldwide tax increases on business, will include their overseas territories? Does anyone want to take a guess? P.S. Ireland doesn't even make the top 10. Maybe an option for us is to double Ireland's corpo tax rate and designate the Aran Islands an offshore territory instead?
Corporate Tax Haven Index ranking: 11 Financial Secrecy Index ranking: 29 Tax lost each year to tax havens: $14,462,658,146 Tax loss inflicted each year on other countries: $15,830,940,779
schmittel wrote: » We're 11th.
Timing belt wrote: You are missing the point..the investors in Reits will end up paying the same tax as a landlord at present.
Timing belt wrote: P.s. just to be clear I post that property has an attractive yield at present (for any investor whether it is private landlords or funds/reits) and have never posted about returns from any fund or REIT.
Apple moved profits to tax haven Jersey after Ireland crackdown: reports November 6, 2017 / 5:36 PM / CBS/AP After drawing scrutiny for its use of tax loopholes in Ireland in 2013, Apple (AAPL) came up with another plan: find another tax haven that wasn't in the spotlight. The technology giant subsequently revamped its overseas subsidiaries to take advantage of favorable tax laws on the European island of Jersey, according to the International Consortium of Investigative Journalists and The New York Times.
fliball123 wrote: » and Germany , U.K, France and the U.S are all in the top 25 . Whats your point?
Study claims State shelters more multinational profits than the entire Caribbean Wed, Jun 13, 2018, 04:35 Ireland is the biggest “tax haven” in the world used by multinationals to shelter profits, according to a new study by economists from the United States and Denmark. The research from academics at the University California, Berkeley and the University of Copenhagen estimates that foreign multinationals shifted $106 billion (€90 billion) of corporate profits to Ireland in 2015. This was more than all of the islands of the Caribbean combined ($97 billion/€83 billion), and well ahead of Singapore ($70 billion/€60 billion), Switzerland ($58 billion/€49 billion) and the Netherlands ($57 billion/€48 billion), according to the researchers.
cnocbui wrote: » Ireland is the worst offender:https://www.irishtimes.com/business/economy/ireland-is-the-world-s-biggest-corporate-tax-haven-say-academics-1.3528401 If I were a dictator running the EU, I would have turfed Ireland out, not only for this, but for all it's other cute-hoor anti single market practices.
