thanks asdfg: unreal or what. wonder could we use a tax like that on say the likes of our 'non resident millionaires' ie JP and his mansion in Limerick. should raise a few bob or two.
not as bad as first appears (maths not my strongest point) a property say costing €125000
the 'property' tax on this is between 0.02 and 2.5 %. presumably closer to the smaller amount in this case. then for 'income' tax purposes on notional income, 1.1% of the property =€1375 taxed @ 25% = €343.75. so total tax on a property of €125000 around the €600 mark. not the end of the world and ideally if you even let it for say 5 weeks @275 per week the notional income would match the actual income so no difference in the tax.
out for a few drinks with the lads last night. around 2.30 in the morning the owner of the pub joined us. we were talking about the tiger kidnapping in dundalk the previous week, and how its not safe to have access to large amounts of cash anymore, and he told us about his pop , (wont go into details here but lets just say hes a well know local businessman with a few well know business' in the town , worth a good few million anyway), who was purchasing a property in bulgaria between nascabar and sunny beach. anyway he had to go to the bank to withdraw the money as the seller wanted it in cash. and then he had to take the cash with him to the notary and only handed it over once everything was in order. point of the story is the amount involved €400,000 for this property which the son informed us was now being rented out to the likes of vodaphone ( dont actually think he was talking about a phone company, more the 'likes' of vodaphone- ie this town is awash with call centres ,boylesports,vodaphone, bank of scotland ireland etc and I think he was just using it as a reference) This persons dad is no fool, believe me, and if he has invested €400,000 in bulgaria it because he obviously believes it will make money for him. course totally different from trying to rent out an apartment. if his dad knew he was telling us this I suspect he wouldn't be a happy bunny!