phileasfogg
Registered User
- Messages
- 66
So you earn just under €50'000 a year and pay €20'400 in tax. That's remarkable.I bought an apartment (first step on so called property ladder). I no longer work near where the apartment is. The apartment is also too small for a family. I cannot afford to sell it because it has a bout 100,000 negative equity still. So, i rent it out. The rent does not pay the mortgage. I pay tax on the rental income. I now live in a different house nearer to where i now work. It is big enough for a family but I have to pay rent to live there. I would love to own a home big enough for my family and near to where i work and to the schools my children go to. In order to do this, I would need a mortgage to purchase such a home. Very strange indeed.
You can console yourself with the fact that even with the pension levy (which is a tax) you still come nowhere near to funding your defined benefit pension. They should have just made it a pay cut so that those receiving a public sector pension were hit as well. That way the burden could have been spread and those with no mortgage, no childcare costs, no commuting costs and higher tax credits could have contributed.I work in a hospital and am required to be available for work on rotas that cover 24/7/ 365 days a year. I get paid for this work, but any work outside of 9-5 is not reckonable for pension. I do have to pay the pension levy on this pay however, whether or not it is pensionable. The governement added this "tax" to all public sector workers who work out-of-hours and called it a "pension levy" to make it more palatable.
So you earn just under €50'000 a year and pay €20'400 in tax. That's remarkable.
You can console yourself with the fact that even with the pension levy (which is a tax) you still come nowhere near to funding your defined benefit pension. They should have just made it a pay cut so that those receiving a public sector pension were hit as well. That way the burden could have been spread and those with no mortgage, no childcare costs, no commuting costs and higher tax credits could have contributed.
You do seem to be paying a very high amount of tax.I don't believe the state should provide homes but the fact will remain that for a certain generation, they will neither afford to buy a home or afford to rent upon retirement. I do not count myself in this cohort. Hopefully I will be able to sell apartment one day and own a suitable home where I now live.
Yep, marginal tax rates are extremely high in this country.Any work I do at weekends for example is taxed at 58% ( public sector tax rates)
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