Budget 2018: the live update thread

statsman

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As has been the case for the last few years (not last year, though), this is the thread for live updates on tomorrow's budget. Not really intended for speculation on what might happen so much as reporting the event live tomorrow. Nevertheless, here's some things I expect we'll be discussing:

  • Tax: bands and USC
  • Housing: capital investment and landlord relief
  • Excise: Fags up again
  • Inheritance tax threshold: a bad move, in my view, but it may well go up
  • Self employed: continuation of the trend towards equity with PAYE
  • LPT: recalculation to allow for property inflation

Let's see what happens.
 


SamsonS

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As has been the case for the last few years (not last year, though), this is the thread for live updates on tomorrow's budget. Not really intended for speculation on what might happen so much as reporting the event live tomorrow. Nevertheless, here's some things I expect we'll be discussing:

Tax: bands and USC
Housing: capital investment and landlord relief
Excise: Fags up again
Inheritance tax threshold: a bad move, in my view, but it may well go up
Self employed: continuation of the trend towards equity with PAYE
LPT: recalculation to allow for property inflation

Let's see what happens.
Let me be the first to declare this budget a missed opportunity
 

hammer

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Was the speculation that CAT threshold would rise to €500,000 in this budget a bad dream ?

Increase threshold by about €25,000 pa a better idea.

Keeps SF IRA in despair every year. They hate that you can give your kids anything. The anti family party :)
 

wombat

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Let me be the first to declare this budget a missed opportunity
Don't worry, there will be lots of posing, the media will give every nut their full quota of attention.
 

statsman

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Was the speculation that CAT threshold would rise to €500,000 in this budget a bad dream ?

Increase threshold by about €25,000 pa a better idea.

Keeps SF IRA in despair every year. They hate that you can give your kids anything. The anti family party :)
Isn't the 500,000 the ultimate ambition, step by step? I think it's the wrong place to go, myself.
 

PO'Neill

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The other cheek of the same ar$e Fine Fail's plan seems to be to claim the 'good' bits i.e. a few small tax breaks but which will benefit the gombeen class of chancers and spoofers most not ordinary workers and denounce the bad bits by Fianna Gael. Unfortunately I have to say, could well pay off for them with the gobshyte section of the electorate :roll:
 

hammer

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The other cheek of the same ar$e Fine Fail's plan seems to be to claim the 'good' bits i.e. a few small tax breaks but which will benefit the gombeen class of chancers and spoofers most not ordinary workers and denounce the bad bits by Fianna Gael. Unfortunately I have to say, could well pay off for them with the gobshyte section of the electorate :roll:
Sure wont they Fianna FAIL abstain from "supporting" budget ?
 

Voluntary

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There will certainly be changes to the CGT, not sure what thought.

"Figures in the report show growth in the CGT yield has tapered off, with a forecast full-year CGT yield of €710 million for 2017, down by 13 per cent on 2016. Back in 2006, when the rate was just 20 per cent, the yield was €3 billion."

So what might Budget 2018 bring? Firstly the rate could be changed, although as noted, each 1 per cent reduction in the rate of CGT would be estimated to reduce yield by about € 25m annually. Another approach could be to increase the rate of tax paid on larger gains. “For example the first € 50,000 could be charged at the current rate of 33% and a higher rate of 34% could be applied to the balance”. This is a system that has been adopted in Finland and Denmark.

The CGT exemption, currently at € 1,270 a year could be increased, although increasing it to € 1,770 would cost about € 3m a year.
 

hammer

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Fantastic of they were to cut CGT to about 25%

Cant see 20% until FF are in Government.
 

Voluntary

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CGT exemption for individuals in UK is £11,300
CGT exemption for individuals in IRL is €1,270
 

Fr Peter McWhinger

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Orbit v2

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Tripling commercial stamp duty from 2% to 6%? They obviously think house prices can take another hike without killing the goose. Fairly populist measure though as most voters already have a house. What if it doesn't work though, and the punitive increase just stops land sales completely like the FF rezoning tax did?
 

Voluntary

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Tripling commercial stamp duty from 2% to 6%? They obviously think house prices can take another hike without killing the goose. Fairly populist measure though as most voters already have a house. What if it doesn't work though, and the punitive increase just stops land sales completely like the FF rezoning tax did?
This and plans to keep the FTB grants in place - two measures increasing home prices. They're very sneaky though, it's like they claim to act in order to make housing more affordable but indirectly do otherwise. Smart populist moves targeted at the less smart part of our society who may simply trust their claims.
 

SamsonS

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Tripling commercial stamp duty from 2% to 6%? They obviously think house prices can take another hike without killing the goose. Fairly populist measure though as most voters already have a house. What if it doesn't work though, and the punitive increase just stops land sales completely like the FF rezoning tax did?
That would be the risk. The old rate was 9%, before it was reduced down to 6 and to 2%. Depeneds as well on how much extra they are budgeting to come in from it, it is abut 800m to end of September in stamp duty, so probably 1.2b for a full year. How much extra could you realistically raise- 100-200m?
 

statsman

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5% all round for Welfare payments?
 

greengoose2

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Regina was breathlessly reading some interminable waffle on morning Ireland so the future is all rosy! Hurrah for the joke government!

Pathkal will be reading some more interminable waffle at 1 pm so let's all go out and celebrate our new good fortune.

What a brilliant government.
 


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