The wondrous adventures of Sinn Fein (part 3) Mod Notes and Threadbanned List in OP

OK, I'd love to see that interview, even it was several years ago, people's memories can do funny things - people do NOT need to make pension contributions to reduce their effective tax rate, although of course it's a handy way of doing it

• he stated a person earning 125k a year pays an effective rate of tax of X% (I think it was mid to high 20s) - if he stated that a person earning 125k a year pays an effective rate of tax of a specific % mid to high 20s then that is probably correct (and obviously excluding ALL tax avoidance measures) - I'd need to sit down and work it out but I'd guess it's correct - have you worked out what their effective tax rate would be for someone on €125k. Of course if you added in pension contributions/AVCs and other tax avoidance measures it would be significantly lower than mid to high 20s% - could get it down to the teens at least.
• he did not state that he was referencing someone 60+ maxing out AVCs - once again I'll say it, age has absolutely nothing to do with your effective tax rate, nada, diddly squat. Your effective tax rate is impacted/changed by your judicious use of tax avoidance measures, which may/may not include AVCs. There would be very very very few people earning €125k who would have an identical effective tax rate. So he was right in not mentioning 'someone 60+ maxing out AVCs' as it would have no relevance. If he was referencing someone 60+ maxing out AVCs then their effective tax rate would be nowhere near mid to high 20s
• He did not include PRSI & USC - He may not have mentioned PRSI & USC, but he certainly included them, he had to, your effective tax rate is calculated including PRSI & USC, so there is no way out of including them in the calculation. If you exclude PRSI & USC from the calculation then a person earning €125k could reduce their effective tax rate to 0%
• he didn't, for comparison sake, state what the effective rate for some one on 20k, 30k, 40k etc was - He could have but I'm struggling to see the relevance, presumably somebody on €20k is on an effective tax rate of 0%, again easy enough to work out but again I wouldn't see the relevance of stating that unless that was the question he was asked

some would say that's disingenuous I'd say its (the first 3 points combined) a complete falsehood. - I would hope that you might revisit this statement in the light of what I've posted above, unless of course you can show what I've posted above is a complete falsehood

I've no idea what the head honchos will make of this when reported.

Wow - actually managed to find it. 136k (strange figure to pick!) and an effective rate of 24%

"he claimed someone on 136k had an effective tax rate of 24%. For a PAYE worker I call absolute 100% bullshit on this"

"My oh comes home with 47% of his gross, now health and pension is deducted also so I’m not sure what the actual tax take is, he earns less than above but 6 figures…so I don’t know where sf’s figures are from"

"As I said absolute bullsh1t

My effective rate is 40% of gross and 44% of taxable (I put 10% into a DC pension). I’m private sector

Even ignoring USC & PRSI my effective rates solely for PAYE are 29.3% & 32.2%. If pension relief is touched this will increase as I’ll only put in 5% to get the extra employer contributions

More rabble rousing I’m guessing “look how little those rich people pay, let’s get em (and conveniently ignore than people on up to 35k pay fuck all)”

Should add these are based on my monthly income in a non-bonus month (namely November)

Any bonus I earn is taxed entirely at the higher rate so my overall effective rates are actually higher"

"If you count USC and PRSI as income tax by other names (which USC certainly is and PRSI arguably so), that’s about my effective rate on low €40Ks, after pension relief on 10% of it. I think they’re being disingenuous here at best. Even if that 24% is true in the very strictest sense for income tax only, the real rate with USC and PRSI will be around 15% higher.

40 odd % sounds about right."

"It’s horseshit. I’m on a little over half that, and I pay effective tax of 35-36%* as a renter with 6%/5% pension contributions, rent relief and only VHI as BIK.

I can bloody well assure you that any pay increases I get send my effective tax rate up and not down.

However, if you count this 136k person as a 60+ year old married single earner, maxing out his/her pension relief at 40% of income"

So no revisiting for me apart from anything I may not have remembered 100% correctly. But my accusation of being a disingenuous bluffer/liar stands

"There's a lot there to digest"

All you really need to digest is that Pearse was being disingenuous and a spoofer.

"I haven't a clue which is your own and which is from this anonymous poster on somewhere"

The quotes are from the thread I linked from the Property Pin

"I presume you do know that you could avoid paying tax at 40% on any of your €85k income with judicious use of tax avoidance measures I presume you understand that."

Not for the first time - yes, but not relevant to the disingenuous spoofer accusation. He cherry picked the max pension tax avoidance not available to all tax payers. A level is available but not the level cherry picked by the bold Pearse

Anyhow - as I said, not getting sucked into a roundabout nonsensical discussion. Pearse was shown to be disingenuous at best

The Sf attitude to state finance is a bit like the story about the couple who borrowed €10,000 from the credit union under the pretence of refurbishing their central heating system. Instead, the couple went to Spain for 2 weeks of high living and when they got back gave the 2 fingers to the credit union about their loan.

Suurr they can get another loan somewhere else if they need it right...

I wonder if the party sent some on to collect him this time , im sure he can go back to work as a election worker for them

Killer Pearse McAuley freed from jail after serving time for horror attack on TD ex-wife - Independent.ie

@notsocutehoor

I’d love the calculation on that ‘below 10% tax figure’.

As a tax advisor you must know something I don’t.

I can guarantee you that SF/Pearse calc is such bullsh*t

Ireland has a progressive tax model aka the more you earn (as an individual) the more you % pay. And a reminder that pension relief is capped and based on age

I am interested in SF housing policy, which seems to be, correct me if I'm wrong:

"more public housing on public lands"

Everybody agrees with the need for more housing, especially the young people drawn to supporting SF.

But most people want to own their own home, rather than be a tenant of the local authority.

Surely there is a conflict here?

@notsocutehoor

post your 10% calc and then let us discuss!