Search results

Thanks all for your thoughtful responses. An accountant friend is advising me that Revenue could deem a tiny salary coupled with a large PRSA contribution as "tax avoidance" under their extensive powers during an audit. This seems odd to me as a PRSA only defers personal taxation rather than...

Thanks, Kevin, for the feedback. I just wanted to check whether Revenue could challenge the company's contribution if they consider the employment not to be bona fide due to a low salary. It's probably difficult to be certain, since no one's yet been audited on this point given the recent...

For a company to contribute to a director's PRSA and be considered deductable for corporate tax purposes, it seems that the director must be an employee, receiving a salary under schedule E. Is there any minimum salary (e.g. 20k p.a.) below which a director would not be considered by Revenue as...

A recent Sunday Business Post article, in the wake of the O'Sullivan v Canada Life court ruling, indicated that Revenue can demand that PAYE tax is paid on the PRSA fund balance prior to transfer abroad. Certainly the legislation on PRSAs seems to allow for this irrespective of the residence of...

Many thanks for the replies. It's particularly interesting to hear from someone who has used the CBD. However, I note that: From the HSE's FAQ on the CBD: "There is no requirement to be on a waiting list in order to access healthcare under the provisions of the CBD. You must have followed...

Hi, My family is currently insured to a high level and I have been throughout my life thus far. However, the tax levy on such policies and poor level of care afforded private patients here is making me rethink. My understanding is that the public system differs little from the private care...

Hi, Does anyone here have personal experience of investing in the Davy/ BDO Employment and Investment Incentive Scheme Fund? The tax break is well documented, as are the risks of an SME investee failure. However, since this is an equity investment, I'm not clear on the exit strategy of such...

If, at retirement, my total benefits (Occupational DB & separate AVC fund) do not exceed the SFT of 2 million BUT together do exceed the 2/3 Revenue limit of final salary if all of the AVCs bought an annuity, what happens to my AVC fund? Could I then use a portion of my fund to bring me to max...

I wonder how many people realize the tax implications of receiving compensation from the FSO? Google brings up: http://www.accountsadvicecentre.ie/taxation-of-compensation-and-damages/

It appears to be the case that UK nationals (including those Irish citizens born before December 1948 who claim their British Subject status) may receive the same benefits as US domiciles. See the US-UK Estate and Gift Tax Treaty 1980 which appears to even apply to Irish residents/domiciles...