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as it happens... Live Commentary Thread

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  • #152
    sok2005
    Registered Users, Registered Users 2 Posts: 1,077 ✭✭✭sok2005


    Regarding the property tax, do we also have to pay to get our homes valued? Or how do we value our own homes, it is just price comparisons to other similar places for sale in our area?


  • #153
    antoobrien
    Registered Users, Registered Users 2 Posts: 6,106 ✭✭✭antoobrien


    sok2005 wrote: »
    Regarding the property tax, do we also have to pay to get our homes valued? Or how do we value our own homes, it is just price comparisons to other similar places for sale in our area?

    Listening to RTE radio the answer to that seems to be you can if you want, otherwise it'll be based on the market price of sales in the area.

    There will be guidelines published on how the figure can be calculated, so if you can fill out a from 11 on your own you'll be grand.


  • #154
    Westwood
    Registered Users, Registered Users 2 Posts: 535 ✭✭✭Westwood


    hatrickpatrick wrote: »
    What's the point of putting rollies up so much more than a packet of cigs? O_o
    cause everyone is smoking them now as the cant afford cigarettes


  • #155
    spank_inferno
    Closed Accounts Posts: 3,884 ✭✭✭spank_inferno


    From a business perspective it was a good budget (all things considered)

    - The increase in R&D tax excemptions
    - Amnesty on corpo tax for new start-ups.
    - No increase in pay-roll taxes.
    - The haulier rebate from July

    Could have been worse.


  • #156
    dreenman
    Registered Users, Registered Users 2 Posts: 64 ✭✭dreenman


    antoobrien wrote: »
    Listening to RTE radio the answer to that seems to be you can if you want, otherwise it'll be based on the market price of sales in the area.

    There will be guidelines published on how the figure can be calculated, so if you can fill out a from 11 on your own you'll be grand.


    Reckon there'll be a lot of houses suddenly getting a valuation of 149,000 and 99,000

    If the revenue wants to argue I'm sure most people will turn around and say well you try to sell the f****** place.


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  • #157
    Nody
    Moderators, Category Moderators, Arts Moderators, Business & Finance Moderators, Entertainment Moderators, Society & Culture Moderators Posts: 18,548 CMod ✭✭✭✭Nody


    dreenman wrote: »
    Reckon there'll be a lot of houses suddenly getting a valuation of 149,000 and 99,000

    If the revenue wants to argue I'm sure most people will turn around and say well you try to sell the f****** place.
    Makes no difference as the tax is based in 50k blocks; anything between the two points (so 100k to 150k, 150k to 200k etc.) is evaluated as being in the middle of the bracket (so 125k and 175k respectively) for tax purposes.


  • #158
    patwicklow
    Registered Users, Registered Users 2 Posts: 1,937 ✭✭✭patwicklow


    dreenman wrote: »
    Reckon there'll be a lot of houses suddenly getting a valuation of 149,000 and 99,000

    If the revenue wants to argue I'm sure most people will turn around and say well you try to sell the f****** place.

    Think it is time to sell up and get the **** out of this corrupt country


  • #159
    antoobrien
    Registered Users, Registered Users 2 Posts: 6,106 ✭✭✭antoobrien


    dreenman wrote: »
    Reckon there'll be a lot of houses suddenly getting a valuation of 149,000 and 99,000

    Not if the neighbours have been selling for more. The price will have to be justified.


  • #160
    [Deleted User]
    Posts: 2,745 ✭✭✭ [Deleted User]


    Jerry Seinfeld wrote: »
    Did i hear the respite care grant is cut by 20%?


    Respite Care Grant to be reduced by €325, from €1,700 to €1,375 per annum

    Disgraceful


  • #161
    dreenman
    Registered Users, Registered Users 2 Posts: 64 ✭✭dreenman


    Nody wrote: »
    Makes no difference as the tax is based in 50k blocks; anything between the two points (so 100k to 150k, 150k to 200k etc.) is evaluated as being in the middle of the bracket (so 125k and 175k respectively) for tax purposes.


    Durr - thats exactly the point the blocks will make people value under the block below ( may be even 2 blocks below!) Most people are going to say their house is worth 149,000 than say 159,000 as they then fall in the lower band.


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  • #162
    Gilally
    Registered Users, Registered Users 2 Posts: 128 ✭✭Gilally


    is TRS gone for everybody or just new mortgage holders we took out mortgage in 2008


  • #163
    spank_inferno
    Closed Accounts Posts: 3,884 ✭✭✭spank_inferno


    Gilally wrote: »
    is TRS gone for everybody or just new mortgage holders we took out mortgage in 2008

    Just for new purchasers

    (thank God!)


  • #164
    antoobrien
    Registered Users, Registered Users 2 Posts: 6,106 ✭✭✭antoobrien


    Gilally wrote: »
    is TRS gone for everybody or just new mortgage holders we took out mortgage in 2008

    Any existing qualifying mortgages that have TRS will continue, there will be no new qualifying mortgages from next year (they haven't extended the scheme).

    I think the scheme was limited to the first 7 years of the mortgage, so 2005 & oler mortgages won't have TRS.


  • #165
    frankosw
    Banned (with Prison Access) Posts: 809 ✭✭✭frankosw


    Quite a big protest of some sort heading towards Leinster House at the moment!


  • #166
    Nody
    Moderators, Category Moderators, Arts Moderators, Business & Finance Moderators, Entertainment Moderators, Society & Culture Moderators Posts: 18,548 CMod ✭✭✭✭Nody


    dreenman wrote: »
    Durr - thats exactly the point the blocks will make people value under the block below ( may be even 2 blocks below!) Most people are going to say their house is worth 149,000 than say 159,000 as they then fall in the lower band.
    And when the central evaluation is done (and I expect one to be done once a suitable newspaper runs a couple of "horror stories" about the undervaluation done by a prominent person/group/what ever) said people will be slammed with additional taxes. There are many things to cheat on but taxes is one of few areas that work well in the PS when it comes to fraud detection.


  • #167
    seamus
    Registered Users, Registered Users 2 Posts: 68,173 ✭✭✭✭seamus


    Relatively easy budget all round.

    A couple earning €50k between them living in a home worth €199,999 or less, a car each and two kids will be out by around €20 a week, at most, taking everything into account.

    For a couple on €50k, €20 a week is an adjustment that can be made without having to live in rags.

    The biggest impact on most people is the removal of the PRSI floor, which is harsh but necessary. It'll bring in a shedload of money and creates a more equitable tax base.


  • #168
    noodler
    Registered Users, Registered Users 2 Posts: 27,548 ✭✭✭✭noodler


    Still no decent summary of the expenditure measures?


  • #169
    spank_inferno
    Closed Accounts Posts: 3,884 ✭✭✭spank_inferno


    seamus wrote: »
    Relatively easy budget all round.

    A couple earning €50k between them living in a home worth €199,999 or less, a car each and two kids will be out by around €20 a week, at most, taking everything into account.

    For a couple on €50k, €20 a week is an adjustment that can be made without having to live in rags.

    The biggest impact on most people is the removal of the PRSI floor, which is harsh but necessary. It'll bring in a shedload of money and creates a more equitable tax base.

    True.

    For myself personally being on a modest wage the adjustment incl property tax works out at €12 per week.

    The PRSI adjustment will be nearly twice the cost of the property tax (in my circumstance).

    Of course all we will hear about from the media is the property tax.


  • #170
    Geuze
    Registered Users, Registered Users 2 Posts: 14,443 ✭✭✭✭Geuze


    Brussels Sprout wrote: »
    I saw on RTE that the Pension Levy is to be abolished in 2014. Is that the same levy that was introduced a few years back in the Public Sector? If so why is it being abolished?

    No, what's to be abolished is the 0.6% levy on pension fund assets, not the PRD.


  • #171
    Geuze
    Registered Users, Registered Users 2 Posts: 14,443 ✭✭✭✭Geuze


    loveisdivine wrote: »
    So does this mean we will all end up paying a bit more PRSI now? I dont really understand, not very good with this sort of thing.

    Yes, 4% PRSI on first 127 pw, meaning 265 pa extra PRSI.


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  • #172
    Idbatterim
    Registered Users, Registered Users 2 Posts: 18,447 ✭✭✭✭Idbatterim


    anyone have any idea of what the property tax of .18% will bring in per annum? Im assuming an absolute pittance, given the furore over it?!


  • #173
    antoobrien
    Registered Users, Registered Users 2 Posts: 6,106 ✭✭✭antoobrien


    Idbatterim wrote: »
    anyone have any idea of what the property tax of .18% will bring in per annum? Im assuming an absolute pittance, given the furore over it?!

    Details available here:

    Nutshell expected yield is €250m for H2 2013, €500m for 2014.


  • #174
    seamus
    Registered Users, Registered Users 2 Posts: 68,173 ✭✭✭✭seamus


    Idbatterim wrote: »
    anyone have any idea of what the property tax of .18% will bring in per annum? Im assuming an absolute pittance, given the furore over it?!
    Looks like they're forecasting a return of €250m on it.
    Edit: Sorry, as above €500m because you only have to pay a half year in 2013.


  • #175
    Dermighty
    Closed Accounts Posts: 2,748 ✭✭✭Dermighty


    I look forward to finishing my degree in college and leaving Ireland.


  • #176
    frankosw
    Banned (with Prison Access) Posts: 809 ✭✭✭frankosw


    seamus wrote: »
    Looks like they're forecasting a return of €250m on it.
    Edit: Sorry, as above €500m because you only have to pay a half year in 2013.

    Still far less than they spend on Overeas Aid.


  • #177
    Chips Lovell
    Moderators, Politics Moderators, Sports Moderators Posts: 24,277 Mod ✭✭✭✭Chips Lovell


    One of the big changes in the PRSI regime is that from 2014, all income is going to be subject to it, such as frental income, investment income, dividends and interest on deposits and savings.


  • #178
    ardmacha
    Registered Users, Registered Users 2 Posts: 7,476 ✭✭✭ardmacha


    I look forward to finishing my degree in college and leaving Ireland.

    Will you be repaying the money spent on your education?


  • #179
    noodler
    Registered Users, Registered Users 2 Posts: 27,548 ✭✭✭✭noodler


    ardmacha wrote: »
    Will you be repaying the money spent on your education.

    In fairness, I'd give the poster the benefit as he probably meant in terms of getting a job which everyon can understand.

    I don't think he is going to find taxation abroad to be all that different to Ireland.


  • #180
    dreenman
    Registered Users, Registered Users 2 Posts: 64 ✭✭dreenman


    antoobrien wrote: »
    Not if the neighbours have been selling for more. The price will have to be justified.

    Houses selling? You must tell me where you live!


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  • #181
    shedweller
    Closed Accounts Posts: 4,023 ✭✭✭shedweller


    Vladimir Kurtains wrote: »
    One of the big changes in the PRSI regime is that from 2014, all income is going to be subject to it, such as frental income, investment income, dividends and interest on deposits and savings.
    Will all this extra PRSI mean the health service will work better? Or am i being spectacularly naieve?!!


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