SFT limit

A

allaround

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in or around 2014 this was reduced to 2million, was there ever a mechanism for this to be reviewed?
 
I think it's a policy matter. When it came out first, there was talking of it being increased in line with inflation each year but that never happened. The Revenue are quite happy to leave it at €2m as they getting a massive tax take if someone goes over it (hospital consultants got a pay rise based on a High Court settlement recently that will push a lot of them over the €2m but they can't avail of the PFT).

With the gap between the haves and have nots increasing and the general centrist parties that we have with FG and FF, they don't want to alienate voters by giving away tax breaks to the wealthy while people are waiting on trolleys in hospitals :eek: . Same goes with the 41% tax on investments. Sure only rich people save money so why reduce the incredibly high tax?

Steven
http://www.bluewaterfp.ie (www.bluewaterfp.ie)
 
SBarrett said:
When it came out first, there was talking of it being increased in line with inflation each year but that never happened
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It did actually.

The SFT was first introduced in 2005 at €5,000,000 and had indexed up to €5,418,085 before it was reduced to €2,300,000 in 2010. It was reduced again to its current level of €2,000,000 in 2014.

I don't think there is any possibility of the SFT being increased - if anything, a further reduction is more likely. SF want to reduce it to €1.2m.
 
Sarenco said:
It did actually.

The SFT was first introduced in 2005 at €5,000,000 and had indexed up to €5,418,085 before it was reduced to €2,300,000 in 2010. It was reduced again to its current level of €2,000,000 in 2014.

I don't think there is any possibility of the SFT being increased - if anything, a further reduction is more likely. SF want to reduce it to €1.2m.
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I would be surprised if it reduced.

Because public servants are subject to it, any reduction brings more of them into the net. And they’re unionised and likely to kick up a stink. And some of them drive and dictate policy. Turkeys rarely vote for Christmas.

My sense is that the status quo will endure with inflation effectively reducing it over time.
 
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