Brendan Burgess
Founder
- Messages
- 53,409
Good decision.
The proposed provision was way too vague to be of any practical application.
Who is to say what the lowest rate a beneficiary could have borrowed the money in the open market? Mortgage rate? Personal loan rate? Credit card rate? Fat Tony’s special rate?
the normal bit of help a parent might give a child out of already taxed income.
There's a difference. I can accept the principle of income taxes, consumption taxes and capital taxes. They are conceptually different and they tax different things.So you object to paying VAT on your pint of Guinness as well or on your petrol or the Local Property Tax. All are paid out of already taxed income.
Brendan
I think a better approach would be to put a ceiling on how much can be lent at 0% interest, with a higher rate kicking in above it.
Something like ECB rate plus a margin would be simplest.the balance at a deemed rate of 2
Because individual representations outside of a public consultation are ignored unless they are enough to fill cratesWhy not make that submission directly to the Minister?
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