"Own their own home" could mean people who are mortgage free I suppose?Average wealth amongst those who own their own home stands at €674,000, according to NIB estimates.
With 80% homeownership in Ireland, an across the board tax like that would not be popular and is unlikely in my opinion. There is definately scope to tax vacant properties however. According to the last census there were about 300k properties in this category so a 1% tax on the average price would be able to pull in an extra billion for the Excequer without upsetting too many.The dept of finance dept must be drooling. They very kindly reduced stamp duty and all they need now is a teeny tiny property tax of say 1% and they could raise nearly €100 billion per year from all that "real" wealth out there.
without upsetting too many.
heard this reported this morning on the radio.the average wealth per household is 670,000 euros in ireland.this seems very high to me as average house price is 298,000 euro and average income is c.33000 euro ! this cant be right???
Total GDP income per person is about 40k, that means average GDP income per household of maybe 80-100k.
Average incomes are not 33,000.
Total GDP income per person is about 40k, that means average GDP income per household of maybe 80-100k.
GNP income per person is about 35k.
The average industrial wage may be about 30-35k, but this ignores huge amounts of non-wage incomes, e.g. rental incomes.
Take an anecdotal example: rents on high streets all over Ireland are high, and have risen strongly. So rental income has been growing strongly.
Average income is a per person thing includes all people in the workforce which includes people who are unemployed, people working part time etc.
The average income of a full time worker is a lot higher. The average industrial wage is also the average wage for industrial workers, not all workers - bear in mind that the services sector is larger than the industrial sector in Ireland.
This sounds about right.
average income includes the unemployed?? how can you include the unemployed...they have no income.
I dont believe that ub can be included as average incomeThey have unemployment benefit.
I don't agree with you,imo they receive benefit not earned taxable income,not all sw recipients are looking for work some are not able to work,do you include these when calculating national average income, I doubt itOf course UB benefit should be included when calculating average income. Their "work" is looking for employment. Their employer is the state.
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