Brilliant article. Can clearly see why some young people still vote ffg. Their failures aren't as apparent when mammy and daddy sort out all of your financial issues, including housing...
Wow.
The person who “busts their bollix” to earn something and pay taxes for it should be allowed to pass it on to their children or whoever they damn well want without it being taken back from them because they died
It’s unearned income, no matter how many times you say it’s not.
Well if you die then you are dead. And you have no property rights. Adios
The benefit someone else gets from my work has no bearing on my tax liability
Again - it's not an income. Sometimes it's not even money.
As someone said, we're talking about vultures here. Assets change hands and suddenly the government thinks it's entitled to a chunk. On what grounds?
The person paying you gets the benefit of the service they paid you for as part of the service economy. Should we have to pay for the privilege of dying?
So what's the plan then? Confiscation of all property and savings upon death?
They'll just give it to vulture funds.
It’s both, an income and an inheritance. If the parents were any way clever, there are ways to reduce the amount of tax the person who inherits an asset will have to pay, if they end up paying any at all. The parents or grandparents or uncles and aunts can transfer their wealth during their lifetimes.
I sometimes think I give my own child far too much pocket money that he can afford the lifestyle he leads 🤔
So, in your book, a person who busts their bollix working for their money should pay tax on it, but a person who receives a gifted windfall shouldn't have to
Because you earned the money. You are not receiving a gift. It’s a business transaction. You are being paid for your labor.
We’ll that’s certainly not true.
As far as I can see the only people who support an inheritance tax are people whose parents failed them.
It’s all technicality. If I give you 100 euro and take 30 back I gave you 70 euro. You gave me nothing
There are those who net contribute and those who net benefit. And those who benefit always tell how those who are contributing they aren’t contributing enough.
They don’t come for a third of everything.
Someone inheriting €500,000 from a parent pays €53,460 in tax,
A little over 10%.
And why should I pay tax on my nixers?
I mean the person paying me already paid their income tax on it?
And when I use it to buy something, the person selling it me shouldn't have to pay tax on any of it
Somebody earned it. That’s the point… somebody already paid tax on it.
’inheriting’ should not entitle a government to go in for another grab.
And right now we don’t. But they’ll be those crying about anyone getting a single euro without them getting their cut. Vultures.
incorrect, most money has not all. But the fact in death.. the government come for another third of everything… dismal.
We do?
https://www.revenue.ie/en/jobs-and-pensions/periods-of-unemployment/taxation-jobseekers-benefit-self-employed.aspx
I think inheritance should be abolished.
why should the children or the wife’s of a hard working man who worked hard all his life and put his children through college and for the daughter who was not very bright Organise a sectorial course and then got the local councilor to get her a job behind the bar - why should these ungrateful family members get his stuff for nothing after all the hardship they put him through ringing him at all hours looking for him to pick them up from the disco
the dependents can go and sh1te in my book
I did. My parents are still alive. But why should you get what they earned?
As my point earlier. This whole idea that people are living off their parents wealth and house is pure bull. Most people only get inheritance well into their later adult life and long after they’ve earned their own. And even then usually share with siblings and it’s diluted to a point they couldn’t have been set up for life in any way.
I find most people who complain about inheritance tax just hate success while living off those who are successful.
we already do, and rightly so.
We don’t tax those that inherit small sums. Unless you think €335,000 is a small sum.
Indeed. I think we should tax the multi-generational inheritors, not those inheriting small sums.
So we should tax benefits?
Go earn your own instead of sponging off your parents
I agree that huge taxes on capital gains and small inheritance are actually criminal. As someone who worked in the HSE previously I'll add that it is indeed wasted on shite.
All money is taxed multiple times.
Taxing unearned income is absolutely the right thing to do.
That is rare though. In most cases it’s first generation earned and paid for. Go earn yourself instead of looking for my parents money.
Inheritance tax is the most ethical tax there is.
A person is receiving a sizeable transfer of wealth that they did not personally earn. There are large thresholds under which the rate is zero
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