There is no logic for lower rates of USC for older people. USC is just another tax. The USC exemption for over-70s should be scrapped particularly given how generous the household benefits package and GP care packages are.
- Scrap tax reliefs, lower USC and PRSI exemption for retired people
This is true. When USC (Income Levy) was introduced the Health Levy was moved from PRSI into it. The lower rate of USC for those with medical cards should also be removed. This rule caused a mess, with people who qualified for a UK GP Doctor cards etc taking the mick. I know of one airline were all the pilots registered for cards in the EU countries they flew to. Finally PRSI needs to be increased for the self employed, now that they are entitled to the same benefits as employees.It would be bizarre to levy PRSI on over-66s even though it gets them no extra pension and entitles them to no out-of-work benefits.
The only PRSI a business pays is employer's PRSI in respect of their employees.Can someone explain how self employed increased prsi works. If a business pays prsi it is tax deductible so say profit 100k prsi 10k profit is 90k to pay tax on. For the self employed if profit is 100k and prsi 10k, the taxable income is still 100k ? Or am I missing something.
To be fair, the 13 members are from a variety of backgrounds, including the private sector, eg,On top of that these guys get the benefit of the new public sector pay hikes
It is recommmending more taxation - but not on earned income - in this context:Otherwise this is not a shift in tax burden. It's a grab for more tax.
Can someone point me to a single tax or levy reduction here on labour?
Otherwise this is not a shift in tax burden. It's a grab for more tax.
Or, perish the thought, cut public expenditure.And we have a big deficit to make up through increased taxation. So maybe we increase capital taxes and indirect taxes so that employment is taxed relatively lower.
But they are highly paid professionals and not affected by the tax measures that they are recomending probably also benefit from the privilege of working from home. They all live in leafy dublin suburbs and hob nob with the journalists which explains why this report was leaked and got such prominence in the media. In other words they are using their connections to bounce the government into decisions that they favourTo be fair, the 13 members are from a variety of backgrounds, including the private sector, eg,
Sandra Clarke is a Chartered Tax Advisor and immediate past President of the Irish Tax Institute
Fergal O’Brien is the Director of Lobbying and Influence at Ibec
Rena Maycock is the CEO and Founder of Cilter Technologies
Marie Bradley is Managing Director of Bradley Tax Consulting
Also, the Chair is from the London School of Economics, so unlikely to be impacted by the new public sector pay hikes.
In that case the system will give them money and call it social welfare. Most developed countries do similar.When they recommend more capital taxes to they want to reduce income taxes or is it just an exercise in taking more money from the same people. What happens when tax payers run out of cash?
Can you point to any reports of recommendations from "this commission on welfare and taxation" regarding raising of tax bands to protect workers from inflation"? I doubt they would be doing so as that would be a government decision for the budget. And the government have been giving indications that there will be changes along those lines.yet the government and this "commission on welfare and taxation" still playing down any tax cuts or raising of bands in order to protect workers from inflation
already committed to large welfare, public sector spending and other current spending increases.
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