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


controller

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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
 


FakeViking

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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!
 

Sync

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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?
 
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politico24

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Sort it out Enda and if possible retrospectively claw back some money for the taxpayer from those shower.
 

jpc

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Should be easy to sort if people want to.
Any one going to oppose it?
 

TheMushyStuff

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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.
 

Neutron

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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
 

SideysGhost

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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"
 

Sync

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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.
 

politico24

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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.
 

controller

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Public Expenditure Minister Brendan Howlin has introduced an amendment to close the loophole by the end of the year.
 

Neutron

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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.
In what way is the Irish government sorting it out?

Congratulations Sync, I hink the you have just shown your true colours, dare I say you support Fine Gael.
 

Neutron

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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.
Didnt call you an idiot, I actually said Your some idiot if you think Enda will do anything.

After given you evidence of how Kenny is going to be fleecing the state once he retires do you now still think your beloved Enda will still do anything to stop the party for ex politicians?

Remember your only an idiot if you think he will.
 

Sync

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I what way is the Irish government sorting it out?

Congratulations Sync, I hink the you have just shown your true colours, dare I say you support Fine Gael.
Howlin's introduced an amendment to fix it. READ THE ARTICLE. We can help you the bigger words.
 

Neutron

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Howlin's introduced an amendment to fix it. READ THE ARTICLE. We can help you the bigger words.
Talk about dragging their feet, by the end of the year!

Lets see if Howlin finds it possible to introduce this amendment, he has such a great track record.
 

politico24

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Didnt call you an idiot, I actually said Your some idiot if you think Enda will do anything.

After given you evidence of how Kenny is going to be fleecing the state once he retires do you now still think your beloved Enda will still do anything to stop the party for ex politicians?

Remember your only an idiot if you think he will.
Kenny who took a voluntary pay cut when he was leader of the opposition (and didn't hand it to his party like SF do but gave it back to the Department of Finance). Kenny who took a E14,000 pay cut when he became Taoiseach (still paid too much but that's not the point). Kenny who probably will oversee further cuts to politicians and top Civil Servants over the course of his term of office.

It is so easy to be negative for the sake of it. Sure lets organise a protest and we will all feel happier then.
 

Sync

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Talk about dragging their feet, by the end of the year!

Lets see if Howlin finds it possible to introduce this amendment, he has such a great track record.
Neutron: GLAAAUUUURRRR ME NO LIKEY DIS. WHYNDONT DEY FIX IT!!!!!

Sync: Well if you read the article that's been linked to, and many off the posts preceding yours, you'll see they've already tabled an amendment to fix it.

Neutron: glllaaaauuuurrrr ME NO READ. DAT NO GUD ENUF. WHY NO FIX NOW.????

So now you're whining that it will take a month and a half to move through the Dail? A child of 5 has a better chance of understanding the legislative process than you do.
 

controller

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Kenny who took a voluntary pay cut when he was leader of the opposition (and didn't hand it to his party like SF do but gave it back to the Department of Finance). Kenny who took a E14,000 pay cut when he became Taoiseach (still paid too much but that's not the point). Kenny who probably will oversee further cuts to politicians and top Civil Servants over the course of his term of office. It is so easy to be negative for the sake of it. Sure lets organise a protest and we will all feel happier then.
So you're o.k. with the fact he has accumulated a 100,000 lump sum for his pension as teacher even though he was only a teacher for 4 years??
 

controller

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Neutron: GLAAAUUUURRRR ME NO LIKEY DIS. WHYNDONT DEY FIX IT!!!!!

Sync: Well if you read the article that's been linked to, and many off the posts preceding yours, you'll see they've already tabled an amendment to fix it.

Neutron: glllaaaauuuurrrr ME NO READ. DAT NO GUD ENUF. WHY NO FIX NOW.????

So now you're whining that it will take a month and a half to move through the Dail? A child of 5 has a better chance of understanding the legislative process than you do.
Why the insults?? Why are you such a tool??
 

Disillusioned democrat

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Over the past 5 years we have seen no evidence that our politicians are interested in anything other than personal gain. This would appear to be an obvious and easy loophole for Enda Kenny's government to fix, would be fair and popular, if not a huge saving, but would go someway to address the imbalance between the leech politician and the over burdened tax payer....in business parlance a "no brainier". The CEO of any company where something like this was uncovered would be in the news the very next day telling us it was sorted, fixed, never to happen again.....but our political leaders?....nothing, heads down, "nothing to see here", "it's only a tiny saving", "it'll all blow over".

I'm really sick of it now and beginning to look forward to something so tectonic that we will default on out "debts" to these political class parasites.
 
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