UptheDeise
Registered User
- Messages
- 272
Well first up, hi everybody, haven't being around here in ages. Was giving the internet a break and all that.
Anyway, I was wondering could someone help me with the following inquiry.
A family member of mine has a savings/investment policy over the last ten years, where they paid in money on a monthly basis.
He's paid in a total of €45,000 and the fund is now worth approximately €65,000.
He now wants to cash in his fund so....
He will get back €45,000 but he will pay 41% exit tax on the €20,000, which is €8,200.
He is long term unemployed(over three years) and he does not sign on.
So the total amount will be €45,000 + €11,800 (€20,000 - €8,200) = €56,800.
My question is this, can he claim back any tax on the €8,200?
Any information would be greatly appreciated.
Anyway, I was wondering could someone help me with the following inquiry.
A family member of mine has a savings/investment policy over the last ten years, where they paid in money on a monthly basis.
He's paid in a total of €45,000 and the fund is now worth approximately €65,000.
He now wants to cash in his fund so....
He will get back €45,000 but he will pay 41% exit tax on the €20,000, which is €8,200.
He is long term unemployed(over three years) and he does not sign on.
So the total amount will be €45,000 + €11,800 (€20,000 - €8,200) = €56,800.
My question is this, can he claim back any tax on the €8,200?
Any information would be greatly appreciated.