Rental income and taxation - no other income

You'll have Class K PRSI @4% - because it's 'unearned' income I don't believe there's a threshold. Note, class K doesn't provide any social insurance benefits.

Because total income is under 13,000 you should be exempt from USC.
 
If you have no other income is there a reason you are not claiming welfare?
 
If you have no other income is there a reason you are not claiming welfare?
Property owned by an adult child who's a full time student.
OP has asked some interesting scenarios around this over the past while.
 
You'll have Class K PRSI @4% - because it's 'unearned' income I don't believe there's a threshold. Note, class K doesn't provide any social insurance benefits.

Because total income is under 13,000 you should be exempt from USC.

Class K PRSI is for Public Service Holders - I don't think this applies

I would expect his PRSI Class will be S - Self-employed and there is a min payment of € 500 pa but this does get you full PRSI credits.
 
Class K PRSI is for Public Service Holders - I don't think this applies
Unearned income over 5k, with no other income. I'm almost certain it's class K, but it's a while since I looked at it.
I'll check again later.
 
People who pay Class S include farmers, professional people, certain company directors, people in business on their own or in partnerships and people with income from investments, rents or maintenance payments. Employees who are also self-employed in a trade or profession pay Class S PRSI on that income as well as their Class A PRSI contribution as an employee.
 
You're correct, as there is no other insurable income.
I had it the wrong way around; if an employee had additional income outside their PAYE income, that was unearned, then the PRSI payable on the unearned income is Class K.
 
Class S earns National Insurance credits - so after 10, or whatever it is now, years of paying € 500 you could be eligible for a full State Pension. Although the rules are being changed all the time
 
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