Z
The revenue want your money.Now if you wouldn't mind synopsizing it please
Yes. But as I mentioned above as far as I know if you earn more than a certain amount in deposit interest in any tax year then PRSI may also be an issue. Can somebody clarify if/when this is the case and if this is also a focus of the latest Revenue push?"and while in recent years DIRT satsfied all Tax due on interest regardless of the marginal rate of tax of the taxpayer,"
Is this correct even if you are on 41%
Revenue emphasise that the focus is on money which was undeclared for tax purposes and this current initiative will affect a relatively small number of taxpayers.
But there maybe an issue in relation to PRSI if the interest if over 3K annually
Fair enough if it is. I only raised it because (a) it may be a liability that some people have and (b) it was not clear from the original Revenue press release/statement what the specific focus of this trawl was.I honestly think that the PRSI issue is a red herring in relation to the recent Revenue announcement.
Spreading it around different banks has absolutely NO impact on your tax liability. While it might manage to avoid Revenue's attention in this current trawl, it is just a matter of time before they lower the thresholds and accumulate balances across different banks. Allowing even more interest to build up on any liability to Revenue is not a particularly smart strategy.Spread it around in different banks and that would also avoid the tak problems legally i would think.
What has this got to do with the original subject matter!!?Do you have a bank insurance system in Eire? If so what is the limit?
I was thinking more along the lines that if a bank goes bump you will lose an awful lot of cash.
Charlie
this is obviously a strategy by revenue to catch out all the "amateur investors" who made a killing during the boom years,who a now liable for 1. the original stamp duty that should have been paid 2. the capital gains on disposal. There's plenty of them out there !.
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?