1. Director Pensions:
Director's pension schemes are still a major loophole. A director can build up a fund of up to €5.4 million and take 25% of it in a tax-free lump sum. (Again, the Government has been unable to provide information on the amount that would be saved).
Interest relief on rental properties is costing €800m and should be cut.
3. Tax exiles:
An Irish passport should mean something. If you want to be part of Irish society and benefit from it you should pay like anyone else (The Government has been unable to provide information on the amount that would be saved, but we estimate the figure to be at least €175m)
4. Cap pension relief at €100,000:
Tax relief on pension contributions is capped at €150,000. Lowering this cap to €100,000 would yield €186 million
Abandon the super-private clinics and save €1 billion over seven years, or €140m per year.
Wednesday, 4 March 2009
5 Ways to Save
From a press release by Róisín Shortall, 5 proposals by the Labour Party to save the State money. Before we hit the most vulnerable again, let's hit those who benefit most the hardest.