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Thats just wrong

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  • 26-04-2016 11:01am
    #1
    esforum
    Closed Accounts Posts: 1,420 ✭✭✭


    Taxing pensions. **** me if thats not bending over the working man and then asking them to supply the vaseline.

    I work all my life, pay tax, pay into a private pension (which is now subject to a levy in some cases) and you have the audacity to continue to take money of me because I actually planned for my future? You bastards!


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    #2
    smash
    Closed Accounts Posts: 34,809 ✭✭✭✭smash


    esforum wrote: »
    Taxing pensions. **** me if thats not bending over the working man and then asking them to supply the vaseline.

    I work all my life, pay tax, pay into a private pension (which is now subject to a levy in some cases) and you have the audacity to continue to take money of me because I actually planned for my future? You bastards!
    And then when you die, your kids pay tax on what you've left for them... including the KY they have to buy before they get fcuked! :)


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    #3
    SEPT 23 1989
    Registered Users Posts: 43,028 ✭✭✭✭SEPT 23 1989


    find a creative accountant


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    #4
    system_538781
    Registered Users Posts: 36 ✭system_538781


    esforum wrote: »
    Taxing pensions. **** me if thats not bending over the working man and then asking them to supply the vaseline.

    I work all my life, pay tax, pay into a private pension (which is now subject to a levy in some cases) and you have the audacity to continue to take money of me because I actually planned for my future? You bastards!

    You know what else is just wrong? Comparing taxing pensions to gay sex and assuming that the suitable lubricant would be Vaseline.


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    #5
    [Deleted User]
    Posts: 17,378 ✭✭✭✭ [Deleted User]


    What's the rate? Never heard of this..


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    #6
    [Deleted User]
    Posts: 17,378 ✭✭✭✭ [Deleted User]


    system wrote: »
    esforum wrote: »
    Taxing pensions. **** me if thats not bending over the working man and then asking them to supply the vaseline.

    I work all my life, pay tax, pay into a private pension (which is now subject to a levy in some cases) and you have the audacity to continue to take money of me because I actually planned for my future? You bastards!

    You know what else is just wrong? Comparing taxing pensions to gay sex and assuming that the suitable lubricant would be Vaseline.
    Didn't see any mention of homosexuality.. What you on about?


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    #7
    smash
    Closed Accounts Posts: 34,809 ✭✭✭✭smash


    Deleted User wrote: »
    What's the rate? Never heard of this..
    Always been the case: http://www.citizensinformation.ie/en/money_and_tax/personal_finance/pensions/taxation_of_pensions.html


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    #8
    galljga1
    Closed Accounts Posts: 2,938 ✭✭✭galljga1


    Are pension contributions tax free?
    Your pension makes up part/all your income. All income is subject to tax.


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    #9
    system_538781
    Registered Users Posts: 36 ✭system_538781


    Deleted User wrote: »
    Didn't see any mention of homosexuality.. What you on about?

    What did you see then?


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    #10
    Senna
    Registered Users Posts: 8,800 ✭✭✭Senna


    Just another form of double taxation, us Irish love to pay tax. If they could find a way to tax the tax that you pay on the tax, they would.


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    #11
    Ezra Wibberley
    Registered Users Posts: 93 ✭✭Ezra Wibberley


    esforum wrote: »
    I work all my life, pay tax, pay into a private pension (which is now subject to a levy in some cases) and you have the audacity to continue to take money of me because I actually planned for my future? You bastards!

    I hear ya. I do, it pains me to know it'll be taxed.

    BUT, at the same time, there are tax breaks with paying into a pension while working at your marginal rate of tax. So in effect you can contribute more to a pension scheme than it's costing you, allowing that money work for you (hopefully) for 20, 30, 40 years, whatever the case may be. That should probably offset what you're paying in tax when in receipt of your pension, right?


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    #12
    galljga1
    Closed Accounts Posts: 2,938 ✭✭✭galljga1


    Senna wrote: »
    Just another form of double taxation, us Irish love to pay tax. If they could find a way to tax the tax that you pay on the tax, they would.

    As far as I know, pension contributions are tax free so it would only single taxation.


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    #13
    PARlance
    Registered Users Posts: 21,107 ✭✭✭✭PARlance


    Plenty of tax relief for pension contributions but don't let that stop a good rant.


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    #14
    CabanSail
    Moderators, Category Moderators, Arts Moderators, Entertainment Moderators Posts: 9,047 CMod ✭✭✭✭CabanSail


    I have been helping someone with their retirement and pension.

    It seems that you are allowed €200k tax free as a lump sum ...... but there is a catch. It is limited to 150% of your final pay or 25% of your total pension. So if you earn €134k or have an accumulated pension of €800k then you can take it. The normal person is taxed and loses over half of their lump sum over the lower tax free threshold.

    If that isn't legislation made to benefit the wealthy at the expense of the poor I do not know what is. Surely it should be a fixed threshold for everyone.

    The plan of them buying their own unit in retirement is gone as when the tax it taken there is not enough left.


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    #15
    Senna
    Registered Users Posts: 8,800 ✭✭✭Senna


    galljga1 wrote: »
    As far as I know, pension contributions are tax free so it would only single taxation.

    All pension contributions??


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    #16
    Pat Mustard
    Registered Users Posts: 9,554 ✭✭✭Pat Mustard


    Senna wrote: »
    Just another form of double taxation, us Irish love to pay tax. If they could find a way to tax the tax that you pay on the tax, they would.

    I give you...

    Carbon tax!

    Charged on top of VAT.


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    #17
    galljga1
    Closed Accounts Posts: 2,938 ✭✭✭galljga1


    Senna wrote: »
    All pension contributions??

    Not sure at the moment. I used to be on top of all things tax related. I sort of gave up as I got older.


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    #18
    galljga1
    Closed Accounts Posts: 2,938 ✭✭✭galljga1


    Pat Mustard wrote: »
    I give you...

    Carbon tax!

    Charged on top of VAT.

    VAT on top of VRT.


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    #19
    biko
    Registered Users Posts: 81,223 ✭✭✭✭biko


    Get a Panama pension paper


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    #20
    [Deleted User]
    Posts: 17,378 ✭✭✭✭ [Deleted User]


    system wrote: »
    Deleted User wrote: »
    Didn't see any mention of homosexuality.. What you on about?

    What did you see then?
    Something about getting figuratively raped. Sure the state could be a lady wearing a dildo.


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    #21
    PARlance
    Registered Users Posts: 21,107 ✭✭✭✭PARlance


    CabanSail wrote: »
    I have been helping someone with their retirement and pension.

    It seems that you are allowed €200k tax free as a lump sum ...... but there is a catch. It is limited to 150% of your final pay or 25% of your total pension. So if you earn €134k or have an accumulated pension of €800k then you can take it. The normal person is taxed and loses over half of their lump sum over the lower tax free threshold.

    If that isn't legislation made to benefit the wealthy at the expense of the poor I do not know what is. Surely it should be a fixed threshold for everyone.

    The plan of them buying their own unit in retirement is gone as when the tax it taken there is not enough left.

    The best advice you could give them is to go to a few financial advisors for opinions.

    You make it sound like they aren't allowed to get a tax free lump sum. They are. Up to 200k. They could take a further 300k at the standard rate.


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    #22
    weisses
    Registered Users Posts: 9,448 ✭✭✭weisses


    There is no pension left in 20 odd years time

    they tax you .. they crank up the pension age ... they lower what they pay you ... and that is the current situation.

    It will only get worse


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    #23
    pavb2
    Registered Users Posts: 2,934 ✭✭✭pavb2


    I ran my own business for many years and was told putting money into a pension was a no brainer and tax free. I took no profits from the business and put as much as I could into the pension.

    At the height of the recession I would have liked to access my funds but couldn't, yet the government imposed a levy and took an annual % of my cash.

    At one point I had lost about 50% of the value of what I had put in, my fund value is now still worth less than the amount put in.

    Last year I took a 25% lump sum as I was able to access the funds once I sold the business and converted the funds to what's called an ARF and AMRF. The funds in these are subject to USC and tax should I try to cash these in.

    So for me and I appreciate I was naive in not fully understanding how pensions work in hindsight I wouldn't have put as much in as when you try to access your money you are heavily penalised. I stand to be corrected but don't think I can get an income from my AMRF until I'm 75.


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    #24
    PARlance
    Registered Users Posts: 21,107 ✭✭✭✭PARlance


    Senna wrote: »
    All pension contributions??

    Some exceptions but you can contribute up to 15% of your salary tax free if your under 30 and there's a rising scale to 40% of salary for over 60's.


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    #25
    smash
    Closed Accounts Posts: 34,809 ✭✭✭✭smash


    Deleted User wrote: »
    Something about getting figuratively raped. Sure the state could be a lady wearing a dildo.

    Well she's still ****ing someone who doesn't want to be fcuked!


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    #26
    Squall Leonhart
    Closed Accounts Posts: 1,794 ✭✭✭Squall Leonhart


    galljga1 wrote: »
    As far as I know, pension contributions are tax free so it would only single taxation.
    Senna wrote: »
    All pension contributions??

    galljga1 is a little misinformed. SOME of your contributions can be tax deductible, depending on what you're paying in and how old you are,

    See below for what % of your income you're allowed to make and claim tax relief on... (bear in mind you can make a greater contribution than these percentages, but they aren't tax deductible over the thresholds below)

    Under 30 - 15%
    30-39 - 20%
    40-49 - 25%
    50-54 - 30%
    55-59 - 35%
    60+ - 40%

    Worked example;

    If you earn 25,000eur and are under 30 years old, you can claim tax back at the marginal rate (in this case 20%) on an annual contribution of 3750 a year (15% of 25000). So your contribution of 3750 would cost you 3000 (the other 750 being given back to you as a tax refund, or your tax credits adjusted accordingly to take this into account when you're being paid)


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    #27
    dr.fuzzenstein
    Banned (with Prison Access) Posts: 16,635 ✭✭✭✭dr.fuzzenstein


    Sad fact of life. You earn money and have half taken off you. Whatever you spend is 21% VAT. Whatever you save, the tiny bit of interest is taken away again with DIRT. Buy a car, get shafted twice, buy a house, ditto, finally when you're old and need care, you will have to fork out €3k a month to be left lying in your own filth in a crooked nursing home and if you really did, against all odds and the state robbing you blind, manage to retain a house and a few bob, the state will shaft you even in death.
    Oh, and pensions are a sham. A glorified pyramid scheme. You pay in now to pay for the existing pensioners. That money isn't yours. It gets pissed away immediately. I guarantee you, once you're old they'll say "Oh sorry there old bean, taxman took it all, not a sausage left, I barely got my own commission out of it, isn't that funny?"
    Forget being Middle Class, we get shafted and gutted like kippers. Either be poor and live off the state in social housing and on the dole (paid for by us) or be filthy rich and get tax breaks for everything you didn't squirrel away to the Bahamas by shafting your suppliers and customers and then declaring "bankruptcy".
    So, if you're honest and hardworking, you're screwed. Because if you take into account paying tax on your income, VAT on your shopping, DIRT, VAT and VRT on cars, Stamp Duty, LPT, taxing your pension, and care when you're finally clapped out, I'm willing to bet that nearly 90% of what we make gets pissed away on tax between you and tax on business. You will be taken for a ride and treated with contempt. And it's very funny, just how loud a lot of us turkeys scream for Christmas. And that the state manages to run at a loss.
    Basically, if we managed to accumulate wealth (the avergae Joe that is) we wouldn't be dependent on our dead end jobs to make ends meet and we might question the state. Therefore all our money and assets have to be stripped to keep us perpetually down, sky high tax, rent, property prices and care for the elderly ensure that this is the case. Imagine what would happen if the middle classes could accumulate enough wealth to give up the rat race? The state would lose out massively on tax, large multinationals would lose out on mindless worker drones, large pensions funds would completely dry up (not that you will ever see that money again in any case) and God knows who else would lose out on riding us. So, yes it's a rat race, it's for saps and you can't win unless you're even more crooked.


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    #28
    smash
    Closed Accounts Posts: 34,809 ✭✭✭✭smash


    dr.fuzzenstein wrote: »
    Oh, and pensions are a sham. A glorified pyramid scheme. You pay in now to pay for the existing pensioners. That money isn't yours. It gets pissed away immediately. I guarantee you, once you're old they'll say "Oh sorry there old bean, taxman took it all, not a sausage left, I barely got my own commission out of it, isn't that funny?"

    The last decade should have taught us a thing or two about pensions. Companies who are set up to manage your money are going to the wall every day because they invest in crap that's not worth the amount that they're investing.


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    #29
    Agent Smyth
    Registered Users Posts: 714 ✭✭✭Agent Smyth


    system wrote: »
    What did you see then?

    I saw product placement which should not be allowed
    and as far as I know the Government have never used a lube :D


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    #30
    cowboyBuilder
    Closed Accounts Posts: 3,419 ✭✭✭cowboyBuilder


    smash wrote: »
    And then when you die, your kids pay tax on what you've left for them... including the KY they have to buy before they get fcuked! :)

    This.
    It´s the worst form of fúcking robbery by the greedy sociopathic government.

    Inheritance tax, TAX on money that has allready been TAXED .
    Just fúck off.
    I´m getting a dodgy accountant.


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    #31
    Geuze
    Registered Users Posts: 13,190 ✭✭✭✭Geuze


    esforum wrote: »
    Taxing pensions. **** me if thats not bending over the working man and then asking them to supply the vaseline.

    I work all my life, pay tax, pay into a private pension (which is now subject to a levy in some cases) and you have the audacity to continue to take money of me because I actually planned for my future? You bastards!

    What are you on about?

    The generous tax reliefs on pension contributions?

    The short-term temporary levy on pension fund assets?

    The income tax payable on all income, including pension income?


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