Thats just wrong

esforum

Taxing pensions. **** me if thats not bending over the working man and then asking them to supply the vaseline.

I work all my life, pay tax, pay into a private pension (which is now subject to a levy in some cases) and you have the audacity to continue to take money of me because I actually planned for my future? You bastards!

smash

esforum wrote: »

Taxing pensions. **** me if thats not bending over the working man and then asking them to supply the vaseline.

I work all my life, pay tax, pay into a private pension (which is now subject to a levy in some cases) and you have the audacity to continue to take money of me because I actually planned for my future? You bastards!

And then when you die, your kids pay tax on what you've left for them... including the KY they have to buy before they get fcuked!

SEPT 23 1989

find a creative accountant

system_538781

esforum wrote: »

Taxing pensions. **** me if thats not bending over the working man and then asking them to supply the vaseline.

I work all my life, pay tax, pay into a private pension (which is now subject to a levy in some cases) and you have the audacity to continue to take money of me because I actually planned for my future? You bastards!

You know what else is just wrong? Comparing taxing pensions to gay sex and assuming that the suitable lubricant would be Vaseline.

What's the rate? Never heard of this..

system

system wrote: »

esforum wrote: »

Taxing pensions. **** me if thats not bending over the working man and then asking them to supply the vaseline.

I work all my life, pay tax, pay into a private pension (which is now subject to a levy in some cases) and you have the audacity to continue to take money of me because I actually planned for my future? You bastards!

You know what else is just wrong? Comparing taxing pensions to gay sex and assuming that the suitable lubricant would be Vaseline.

Didn't see any mention of homosexuality.. What you on about?

smash

Deleted User wrote: »

What's the rate? Never heard of this..

Always been the case: http://www.citizensinformation.ie/en/money_and_tax/personal_finance/pensions/taxation_of_pensions.html

galljga1

Are pension contributions tax free?
Your pension makes up part/all your income. All income is subject to tax.

system_538781

Deleted User wrote: »

Didn't see any mention of homosexuality.. What you on about?

What did you see then?

Senna

Just another form of double taxation, us Irish love to pay tax. If they could find a way to tax the tax that you pay on the tax, they would.

Ezra Wibberley

esforum wrote: »

I work all my life, pay tax, pay into a private pension (which is now subject to a levy in some cases) and you have the audacity to continue to take money of me because I actually planned for my future? You bastards!

I hear ya. I do, it pains me to know it'll be taxed.

BUT, at the same time, there are tax breaks with paying into a pension while working at your marginal rate of tax. So in effect you can contribute more to a pension scheme than it's costing you, allowing that money work for you (hopefully) for 20, 30, 40 years, whatever the case may be. That should probably offset what you're paying in tax when in receipt of your pension, right?

galljga1

Senna wrote: »

Just another form of double taxation, us Irish love to pay tax. If they could find a way to tax the tax that you pay on the tax, they would.

As far as I know, pension contributions are tax free so it would only single taxation.

PARlance

Plenty of tax relief for pension contributions but don't let that stop a good rant.

CabanSail

I have been helping someone with their retirement and pension.

It seems that you are allowed €200k tax free as a lump sum ...... but there is a catch. It is limited to 150% of your final pay or 25% of your total pension. So if you earn €134k or have an accumulated pension of €800k then you can take it. The normal person is taxed and loses over half of their lump sum over the lower tax free threshold.

If that isn't legislation made to benefit the wealthy at the expense of the poor I do not know what is. Surely it should be a fixed threshold for everyone.

The plan of them buying their own unit in retirement is gone as when the tax it taken there is not enough left.

Senna

galljga1 wrote: »

As far as I know, pension contributions are tax free so it would only single taxation.

All pension contributions??

Pat Mustard

Senna wrote: »

Just another form of double taxation, us Irish love to pay tax. If they could find a way to tax the tax that you pay on the tax, they would.

I give you...

Carbon tax!

Charged on top of VAT.

galljga1

Senna wrote: »

All pension contributions??

Not sure at the moment. I used to be on top of all things tax related. I sort of gave up as I got older.

galljga1

Pat Mustard wrote: »

I give you...

Carbon tax!

Charged on top of VAT.

VAT on top of VRT.

biko

Get a Panama pension paper

system

system wrote: »

Deleted User wrote: »

Didn't see any mention of homosexuality.. What you on about?

What did you see then?

Something about getting figuratively raped. Sure the state could be a lady wearing a dildo.

PARlance

CabanSail wrote: »

I have been helping someone with their retirement and pension.

It seems that you are allowed €200k tax free as a lump sum ...... but there is a catch. It is limited to 150% of your final pay or 25% of your total pension. So if you earn €134k or have an accumulated pension of €800k then you can take it. The normal person is taxed and loses over half of their lump sum over the lower tax free threshold.

If that isn't legislation made to benefit the wealthy at the expense of the poor I do not know what is. Surely it should be a fixed threshold for everyone.

The plan of them buying their own unit in retirement is gone as when the tax it taken there is not enough left.

The best advice you could give them is to go to a few financial advisors for opinions.

You make it sound like they aren't allowed to get a tax free lump sum. They are. Up to 200k. They could take a further 300k at the standard rate.

weisses

There is no pension left in 20 odd years time

they tax you .. they crank up the pension age ... they lower what they pay you ... and that is the current situation.

It will only get worse

pavb2

I ran my own business for many years and was told putting money into a pension was a no brainer and tax free. I took no profits from the business and put as much as I could into the pension.

At the height of the recession I would have liked to access my funds but couldn't, yet the government imposed a levy and took an annual % of my cash.

At one point I had lost about 50% of the value of what I had put in, my fund value is now still worth less than the amount put in.

Last year I took a 25% lump sum as I was able to access the funds once I sold the business and converted the funds to what's called an ARF and AMRF. The funds in these are subject to USC and tax should I try to cash these in.

So for me and I appreciate I was naive in not fully understanding how pensions work in hindsight I wouldn't have put as much in as when you try to access your money you are heavily penalised. I stand to be corrected but don't think I can get an income from my AMRF until I'm 75.

PARlance

Senna wrote: »

All pension contributions??

Some exceptions but you can contribute up to 15% of your salary tax free if your under 30 and there's a rising scale to 40% of salary for over 60's.

smash

Deleted User wrote: »

Something about getting figuratively raped. Sure the state could be a lady wearing a dildo.

Well she's still ****ing someone who doesn't want to be fcuked!

Squall Leonhart

galljga1 wrote: »

As far as I know, pension contributions are tax free so it would only single taxation.

Senna wrote: »

All pension contributions??

galljga1 is a little misinformed. SOME of your contributions can be tax deductible, depending on what you're paying in and how old you are,

See below for what % of your income you're allowed to make and claim tax relief on... (bear in mind you can make a greater contribution than these percentages, but they aren't tax deductible over the thresholds below)

Under 30 - 15%
30-39 - 20%
40-49 - 25%
50-54 - 30%
55-59 - 35%
60+ - 40%

Worked example;

If you earn 25,000eur and are under 30 years old, you can claim tax back at the marginal rate (in this case 20%) on an annual contribution of 3750 a year (15% of 25000). So your contribution of 3750 would cost you 3000 (the other 750 being given back to you as a tax refund, or your tax credits adjusted accordingly to take this into account when you're being paid)

dr.fuzzenstein

Sad fact of life. You earn money and have half taken off you. Whatever you spend is 21% VAT. Whatever you save, the tiny bit of interest is taken away again with DIRT. Buy a car, get shafted twice, buy a house, ditto, finally when you're old and need care, you will have to fork out €3k a month to be left lying in your own filth in a crooked nursing home and if you really did, against all odds and the state robbing you blind, manage to retain a house and a few bob, the state will shaft you even in death.
Oh, and pensions are a sham. A glorified pyramid scheme. You pay in now to pay for the existing pensioners. That money isn't yours. It gets pissed away immediately. I guarantee you, once you're old they'll say "Oh sorry there old bean, taxman took it all, not a sausage left, I barely got my own commission out of it, isn't that funny?"
Forget being Middle Class, we get shafted and gutted like kippers. Either be poor and live off the state in social housing and on the dole (paid for by us) or be filthy rich and get tax breaks for everything you didn't squirrel away to the Bahamas by shafting your suppliers and customers and then declaring "bankruptcy".
So, if you're honest and hardworking, you're screwed. Because if you take into account paying tax on your income, VAT on your shopping, DIRT, VAT and VRT on cars, Stamp Duty, LPT, taxing your pension, and care when you're finally clapped out, I'm willing to bet that nearly 90% of what we make gets pissed away on tax between you and tax on business. You will be taken for a ride and treated with contempt. And it's very funny, just how loud a lot of us turkeys scream for Christmas. And that the state manages to run at a loss.
Basically, if we managed to accumulate wealth (the avergae Joe that is) we wouldn't be dependent on our dead end jobs to make ends meet and we might question the state. Therefore all our money and assets have to be stripped to keep us perpetually down, sky high tax, rent, property prices and care for the elderly ensure that this is the case. Imagine what would happen if the middle classes could accumulate enough wealth to give up the rat race? The state would lose out massively on tax, large multinationals would lose out on mindless worker drones, large pensions funds would completely dry up (not that you will ever see that money again in any case) and God knows who else would lose out on riding us. So, yes it's a rat race, it's for saps and you can't win unless you're even more crooked.

smash

dr.fuzzenstein wrote: »

Oh, and pensions are a sham. A glorified pyramid scheme. You pay in now to pay for the existing pensioners. That money isn't yours. It gets pissed away immediately. I guarantee you, once you're old they'll say "Oh sorry there old bean, taxman took it all, not a sausage left, I barely got my own commission out of it, isn't that funny?"

The last decade should have taught us a thing or two about pensions. Companies who are set up to manage your money are going to the wall every day because they invest in crap that's not worth the amount that they're investing.

Agent Smyth

system wrote: »

What did you see then?

I saw product placement which should not be allowed
and as far as I know the Government have never used a lube

cowboyBuilder

smash wrote: »

And then when you die, your kids pay tax on what you've left for them... including the KY they have to buy before they get fcuked!

This.
It´s the worst form of fúcking robbery by the greedy sociopathic government.

Inheritance tax, TAX on money that has allready been TAXED .
Just fúck off.
I´m getting a dodgy accountant.

Geuze

esforum wrote: »

Taxing pensions. **** me if thats not bending over the working man and then asking them to supply the vaseline.

I work all my life, pay tax, pay into a private pension (which is now subject to a levy in some cases) and you have the audacity to continue to take money of me because I actually planned for my future? You bastards!

What are you on about?

The generous tax reliefs on pension contributions?

The short-term temporary levy on pension fund assets?

The income tax payable on all income, including pension income?

Geuze

dr.fuzzenstein wrote: »

Sad fact of life. You earn money and have half taken off you.

Not a single person in Ireland pays 50% effective income tax.

Many pay 50% on extra income, yes, but not across all their income.

smash

Geuze wrote: »

Not a single person in Ireland pays 50% effective income tax.

Many pay 50% on extra income, yes, but not across all their income.

If you consider the tax you pay on everything you pay for after you get your net pay then you could work it out at way above and beyond 50%.

Geuze

Senna wrote: »

All pension contributions??

Yes, all pension contributions are tax-free, up to generous age-related limits.

dr.fuzzenstein

smash wrote: »

If you consider the tax you pay on everything you pay for after you get your net pay then you could work it out at way above and beyond 50%.

Tax on income, VAT on what you spend, DIRT, VAT and VRT on cars, Stamp duty and LPT, tax on pensions, nursing homes and the final shafting when you're dead, take into account the state also taxes the other half of the transaction plus whatever levies on business, I dare say nearly 80% of what you make goes straight back to the state.

Geuze

smash wrote: »

If you consider the tax you pay on everything you pay for after you get your net pay then you could work it out at way above and beyond 50%.

Total taxes are approx. 40% of GNI.

I might get the exact figure later, if I get a chance.

Geuze

dr.fuzzenstein wrote: »

Tax on income, VAT on what you spend, DIRT, VAT and VRT on cars, Stamp duty and LPT, tax on pensions, nursing homes and the final shafting when you're dead, take into account the state also taxes the other half of the transaction plus whatever levies on business, I dare say nearly 80% of what you make goes straight back to the state.

More like 40% approx.

Let's do the sums.

2014 taxes and social conts = 57,381m
2015 taxes and social conts = 62,177m

2014 GNP = 162,877M

So taxes are 35.22% of income.


This makes sense.

Take my parents, who pay under 10% direct income taxes on 50k income.

Okay, they pay a bit of VAT and excise after that, not much, and some LPT.

But their total taxes would be less than 20% of their income.

Now, other would pay more.

But 35% overall sounds right.

Squall Leonhart

Geuze wrote: »

Yes, all pension contributions are tax-free, up to generous age-related limits.

This simply isn't true. See my earlier post.

pavb2

Geuze wrote: »

Yes, all pension contributions are tax-free, up to generous age-related limits.

Contributions are tax free but for me after I took a 25% tax free lump sum all other withdrawals are subject to USC and normal taxation.

system_538781

Deleted User wrote: »

Something about getting figuratively raped. Sure the state could be a lady wearing a dildo.

If you read the OP you'll see that the state "asked" them to supply Vaseline. So nice of a strap-on wearing state to give notice to rape.

Geuze

Squall Leonhart wrote: »

This simply isn't true. See my earlier post.

I did mention that there are age-related limits........

Geuze

pavb2 wrote: »

Contributions are tax free but for me after I took a 25% tax free lump sum all other withdrawals are subject to USC and normal taxation.

Yes, true.

Although note that those over 65 get three tax reliefs on their income that people under 65 don't get.

CabanSail

PARlance wrote: »

You make it sound like they aren't allowed to get a tax free lump sum. They are. Up to 200k. They could take a further 300k at the standard rate.

The €200k is only available if you have €800k+ in your fund or you earn €134k+ as your final pay. If you earn, say, €50k and have €250k in the fund then the Tax Free Lump Sum would be €75k the remaining €125k would be taxed at about 52%.

smash

CabanSail wrote: »

The €200k is only available if you have €800k+ in your fund or you earn €134k+ as your final pay. If you earn, say, €50k and have €250k in the fund then the Tax Free Lump Sum would be €75k the remaining €125k would be taxed at about 52%.

200k wouldn't last you very long in retirement...

CabanSail

smash wrote: »

200k wouldn't last you very long in retirement...

It would buy a flat, which was the plan. That is now gone. Not much of a flat you can buy the lump sum. Those who can get the €200k could buy a second yacht though. Great system.

Agent Smyth

smash wrote: »

200k wouldn't last you very long in retirement...

It depends on how you spend it, most people wont spend as much in retirement as they did in there 40s, I suspect most people could live quite well on 20k a year

smash

Agent Smyth wrote: »

It depends on how you spend it, most people wont spend as much in retirement as they did in there 40s, I suspect most people could live quite well on 20k a year

Not a hope in hell.

PARlance

CabanSail wrote: »

It would buy a flat, which was the plan. That is now gone. Not much of a flat you can buy the lump sum. Those who can get the €200k could buy a second yacht though. Great system.

So we should have wealth equalisation upon retirement?

Some people have more money than others. The system.

They should really get some professional advice. They have a small pension and buying a flat is awful use of it.

Agent Smyth

smash wrote: »

Not a hope in hell.

well I hope for your sake your pension fund exceeds your living requirments

esforum

esforum wrote: »

Taxing pensions. **** me if thats not bending over the working man and then asking them to supply the vaseline.

I work all my life, pay tax, pay into a private pension (which is now subject to a levy in some cases) and you have the audacity to continue to take money of me because I actually planned for my future? You bastards!

Did you bother researching this at all, no?

HensVassal

system wrote: »

What did you see then?

Homesexual sex is an act of lust or love.

Anal rape is an act of violence. And anal sex is not necessarily a homosexual act.