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Thread: Former Politicians using legal Tax Loophole on pensions of more than €100,000 a year

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    Politics.ie Member controller's Avatar
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    Default Former Politicians using legal Tax Loophole on pensions of more than €100,000 a year

    TWENTY-SIX former politicians who are earning pensions of more than €100,000 a year are escaping a super tax because of a legal loophole.

    Ex-politicians escaping 20pc tax thanks to legal loophole - National News - Independent.ie

    Former Fianna Fail ministers Charlie McCreevy, Dermot Ahern, Noel Dempsey, John O'Donoghue, Joe Walsh, Michael Woods and Martin Cullen -- and former Progressive Democrats leader Sumo Harney -- are among those not having to pay the 20pc tax.
    The loophole arises because the higher rate applies only if a single pension is worth more than €100,000 but not if the politician is getting a number of pensions with a combined value above that level.

    Jaesus............warn't they awful lucky that such a loophole existed....I guess some people are just born lucky
    Dear Lord Baby Jesus, I want to thank you for Pink Floyd

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    Quote Originally Posted by controller View Post
    Jaesus............warn't they awful lucky that such a loophole existed....I guess some people are just born lucky
    You know the old expression, you make your own luck. In this case, it's 100% true. Hopefully EK will close the loophole immediately. Then we'll see which one of these traitors will take a case against it!

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    Politics.ie Member Sync's Avatar
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    Default Only 6 out of 32 politicians earning over 100k in pensions have to pay vaunted 20% tax

    Ex-politicians escaping 20pc tax thanks to legal loophole - National News - Independent.ie

    The loophole arises because the higher rate applies only if a single pension is worth more than €100,000 but not if the politician is getting a number of pensions with a combined value above that level.
    Well that's disappointing. So if you're getting 2 pensions (say a TDs and a minsters) that add up to €120k, you don't have to pay the 20% tax, but if you're receiving one pension of 100k you do. Not the way this was sold to us last year.

    The upshot is that Robinson, Mcaleese, Ahern, Bruton, Reynolds and Cowen pay the tax but no one else does, including folks like Harney, Burke etc.

    Why can't Irish govts ever write decent, encompassing legislation? Why are there always these idiotic loopholes?

    Yes it's good the govt are fixing it

    Public Expenditure Minister Brendan Howlin has introduced an amendment to close the loophole by the end of the year.
    But this is just such basic stuff. Don't they have any corporate legal bods review these things before voting?
    Last edited by Sync; 20th October 2012 at 10:18 AM.
    I'm living in America, and in America, you're on your own. America's not a country. It's just a business. Now f***ing pay me.

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    Politics.ie Member politico24's Avatar
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    Sort it out Enda and if possible retrospectively claw back some money for the taxpayer from those shower.

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    Politics.ie Member jpc's Avatar
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    Should be easy to sort if people want to.
    Any one going to oppose it?
    Its only a chat, we ain't the world council.

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    Politics.ie Member TheMushyStuff's Avatar
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    Quote Originally Posted by politico24 View Post
    Sort it out Enda and if possible retrospectively claw back some money for the taxpayer from those shower.
    Enda will do no such things, after all they want a piece of the pie too afterwards.

    -
    It's a total disgrace but how many do we need to say this, when our own politicians are con-artist.
    Criminals the lot of them.
    “When the debate is lost, slander becomes the tool of the loser.” - Socrates

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    Quote Originally Posted by politico24 View Post
    Sort it out Enda and if possible retrospectively claw back some money for the taxpayer from those shower.
    LOL

    Your some idiot if you think Enda will do anything.

    Kenny says he will defer €100k pension lump-sum until he leaves politics

    FINE GAEL LEADER Enda Kenny has said that he will defer a lump-sum pension payment of €100,000 from his teaching days until after he retires from politics.


    Kenny was a teacher for four years in the 1970s and served as a school principal before his election to Mayo in 1975. Speaking to the Sunday Business Post, a spokesperson for Kenny said that he would not access the pension (which he will be entitled to when he turns 60 this April) until he leaves politics.


    Kenny will be entitled to an annual pension of at least €30,000 on top of the lump-sum payment – as well as his politician’s salary. When he retires from politics, he will be able to access these funds as well as being entitled to a TD’s pension and ministerial pension.
    Kenny says he will defer

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    Quote Originally Posted by Sync View Post
    Why can't Irish govts ever write decent, encompassing legislation? Why are there always these idiotic loopholes?
    They are there by design. This is the way Ireland really works. There always has to be a scam, always has to be an angle.

    It's the same in most Irish businesses, there's always some feckin scam on the go. The Irish managerial class just seem genetically incapable of concentrating on just doing the boring old day-to-day job of providing a quality product at an affordable price. Not interested in that at all. Always got to be a scam, an angle, a get-rich-quick long-shot punt, a gouge-the-customer bit of sharp practice.

    When there are decades of "blunders" that by amazing coincidence all only ever benefit the same small cliques, again and again, at some point even the credulous population of Ireland have to stop having this child-like faith in the wisdom and benevolence of their "betters"

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    Politics.ie Member Sync's Avatar
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    Quote Originally Posted by politico24 View Post
    Sort it out Enda and if possible retrospectively claw back some money for the taxpayer from those shower.
    They are sorting it out. I don't fancy Irish govts deciding to retrospectively take more tax from anyone. They do it to people you don't like today, may not be so lucky tomorrow.
    I'm living in America, and in America, you're on your own. America's not a country. It's just a business. Now f***ing pay me.

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    Politics.ie Member politico24's Avatar
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    Quote Originally Posted by Neutron View Post
    LOL

    Your some idiot if you think Enda will do anything.

    Kenny says he will defer €100k pension lump-sum until he leaves politics



    Kenny says he will defer
    Thanks for calling me an idiot for openly expressing my views on a political discussion forum.

    It's easy to knock everything and criticise everything how about suggesting something constructive like I did.

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