Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

How much tax do you pay over money on the bank?

Options
  • 05-05-2015 4:42pm
    #1
    Asmooh
    Registered Users Posts: 1,468 ✭✭✭


    I was thinking of saving money from my monthly pay and the thing I'm worried about is that you need to pay money just because you save money and not spent it all.

    example, in Holland you cannot have more than 10.000 euros on your account without having to pay extra over the money you have.

    so you pay tax every month, you think 'lets not spent it all' and by thinking like that you pay extra tax just because you did not spent all money.
    Above 10.000 euros will be seen as 'extra income'.

    How is this in Ireland? i know there is something like a 41% tax thing, but that only for money you get as employee every month right?

    If I decide to save 1000 euro's every month, just leave it on the account or maybe even put it on savings account (doesn't matter).
    Do i need to pay again tax over that money just because I want to save money for when I need it?


    Anyone expierence with this?


Comments

  • Options
    #2
    homer911
    Registered Users Posts: 5,119 ✭✭✭homer911


    No, there is no wealth tax. If you put your money in a savings account you will pay tax automatically (DIRT - Deposit Interest Retention Tax), but only on the interest earned.


Advertisement