House Rich, Cash Poor, Low Income Retirement Plan Advice

[Clamball]

Instead of charging your daughter rent under the rent a room scheme ask her to contribute to the household expenses while she lives with you. €500 a month seems reasonable.

You should apply for additional needs payments through social welfare where possible.

In terms of getting additional work, if you work at a venue can you try to get additional hours working at the door, cleaning, serving, usher etc. work in a coffee shop in the mornings if your art work is evenings.

Best of luck.

 

[JohnDoyle1973]

Instead of charging your daughter rent under the rent a room scheme ask her to contribute to the household expenses while she lives with you. €500 a month seems reasonable.

You should apply for additional needs payments through social welfare where possible.

In terms of getting additional work, if you work at a venue can you try to get additional hours working at the door, cleaning, serving, usher etc. work in a coffee shop in the mornings if your art work is evenings.

Best of luck.

Be careful with Revenue on this - they will see the contribution of €500 as income. They may also see them living with her parent as a gift for her. If it was written as an agreement it would be better.

 

[Brendan Burgess]

Revenue is just not interested in this sort of arrangement.

Anyway, based on the numbers, he still would not have a tax liability.

Brendan