Hopefully this is the right forum for this...
Suppose a person wasn't employed (and wasn't trying to claim any benefits) but owned stocks or US-domiciled ETFs which provided passive income in the form of dividends. As far as I'm aware these dividends are taxed based on marginal tax rate + PRSI + USC.
If this income is the only income this person earns:
- Does payment of income tax entitle them to the PAYE tax credit as if the income had come from PAYE employment? Are there minimums required to avail of this credit?
- Does the payment of PRSI count as contribution towards their state pension? I presume there are minimums here (I read elsewhere that a yearly minimum of 500 Euro is required to fully cover this contribution).
Many Thanks,
Sparx
Suppose a person wasn't employed (and wasn't trying to claim any benefits) but owned stocks or US-domiciled ETFs which provided passive income in the form of dividends. As far as I'm aware these dividends are taxed based on marginal tax rate + PRSI + USC.
If this income is the only income this person earns:
- Does payment of income tax entitle them to the PAYE tax credit as if the income had come from PAYE employment? Are there minimums required to avail of this credit?
- Does the payment of PRSI count as contribution towards their state pension? I presume there are minimums here (I read elsewhere that a yearly minimum of 500 Euro is required to fully cover this contribution).
Many Thanks,
Sparx