You pay no USC on the State pension and get an additional €490 tax credit when you are over 65. Do you not think that is enough?I have 4 small pensions including state pensions.
I don't understand the document from the tax office, but after 15yrs of retirement this is the first time I have to pay tax because I am over €36,000 for myself and wife this never changed for many years but the pensions have incremented over the year plus the extras given from the government on cost of living.
I'm sure I'm not the only one, should we not be making a case to increase the tax allowance
I didn't want a political speech, I am merely pointing that the allowance hasn't kept track of inflation and back to the status quoYou pay no USC on the State pension and get an additional €490 tax credit when you are over 65. Do you not think that is enough?
Retirees are the best looked after demographic in the country. If you get increased tax credits, how is it going to be paid for? We either reduce services, but not the HSE, which old people use the most, or other services which younger people use. Or else you tax working people more when there is a cost of living crises.
I have 4 small pensions including state pensions.
I don't understand the document from the tax office, but after 15yrs of retirement this is the first time I have to pay tax because I am over €36,000 for myself and wife this never changed for many years but the pensions have incremented over the year plus the extras given from the government on cost of living.
I'm sure I'm not the only one, should we not be making a case to increase the tax allowance
Apologies OP, Steve and I read this as you asking a question as to whether this forum believes you should be making a case to increase the tax allowance. If you were merely pointing out that the allowance (like many others) hasn't moved fully with inflation then yes that would be correct.should we not be making a case to increase the tax allowance
So, nothing to do with pensions specifically in spite of the thread title?Apologies OP, Steve and I read this as you asking a question as to whether this forum believes you should be making a case to increase the tax allowance. If you were merely pointing out that the allowance (like many others) hasn't moved fully with inflation then yes that would be correct.
It's not supposed to keep in line with inflation.I didn't want a political speech, I am merely pointing that the allowance hasn't kept track of inflation and back to the status quo
It really should though. And it's taken for granted in Britain for example that they should.It's not supposed to keep in line with inflation.
Unless there's actual deflation, war or 2008-type existential crisis, there should never be a need to take anything back.And we all know that once you give it, you can't take it back. So giving a 10% increase in tax credits will be permanent, even if inflation goes back to 2%.
In the UK, the triple lock is on the State pension. The OP wants his tax credits adjusted so he doesn't have to pay any tax.It really should though. And it's taken for granted in Britain for example that they should.
Unless there's actual deflation, war or 2008-type existential crisis, there should never be a need to take anything back.
If inflation is 10% this year it should increase by 10%
If inflation falls to 2% this year it should then increase by a further 2%.
This isn't even hard but we've collectively forgotten that government should serve and work for the people, not the other way around.
The triple lock is a different issue altogether, and a matter of social welfare provision, not tax policy. The UK political and personal finance media are occasionally agog when the Chancellor refuses or fails to index link a tax band, credit or allowance. That sort of dismay is almost non-existent here.In the UK, the triple lock is on the State pension. The OP wants his tax credits adjusted so he doesn't have to pay any tax.
And the triple lock was suspended in 2022 and will probably be suspended this year too. It has also been called unsustainable by the IFS because it puts an even higher burden on workers.
Do you really think that retirees use the HSE the most? What about free GP care for children? That seems to have increased by age each year.You pay no USC on the State pension and get an additional €490 tax credit when you are over 65. Do you not think that is enough?
Retirees are the best looked after demographic in the country. If you get increased tax credits, how is it going to be paid for? We either reduce services, but not the HSE, which old people use the most, or other services which younger people use. Or else you tax working people more when there is a cost of living crises.
Google the 2019 Oireachtas document titled "The Effect of Changing Demographics on Irish Health Expenditure".Do you really think that retirees use the HSE the most? What about free GP care for children? That seems to have increased by age each year.
On average, people in older age groups consume more healthcare than younger adults. Therefore, if the number of people in older age groups increases, it is expected that healthcare expenditure will increase also, as the amount of healthcare being demanded has increased.
There's also an oft-repeated saying that the median person consumes 50% of their lifetime healthcare in their final year of life. I have no link or evidence to prove or disprove it but it certainly has rung true in the past in relation to some of my deceased relatives.Do you really think that retirees use the HSE the most? What about free GP care for children? That seems to have increased by age each year.
Do you really think that retirees use the HSE the most? What about free GP care for children? That seems to have increased by age each year.
This isn't even hard but we've collectively forgotten that government should serve and work for the people, not the other way around.
Well if populism means not having 33% tax bills on foot of exempt thresholds that have either in the case of CGT been frozen for 20 years or have actually been cut substantially in the past 20 years, at a time when the exchequer has so much money it's struggling to find fripperies on which to spend it, bring it on.And if we all vote for populist parties then soon enough we'll all be drowned in freebies - all paid for by the other guy.
The current child dependancy ratio who are aged 15 and younger is 31.4Google the 2019 Oireachtas document titled "The Effect of Changing Demographics on Irish Health Expenditure".
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?