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Updated, 19:11
IRELAND IS GIVING UP at least €200 million in tax revenue per year on tax products to people who earn over €100,000 per year, former junior minister Roisín Shortall has claimed.
Shortall says Retirement Annuity Contracts, a pension product usually used by the self-employed, are meaning major tax breaks for high earners – with 70 per cent of such contracts held by people earning six-figure salaries.
Meanwhile, figures provided to Shortall by finance minister Michael Noonan also show that 58 per cent of Personal Retirement Savings Accounts are held by people earning similar figures. The figures relate to the 2009 calendar year.
“Tax relief on pension contributions costs the State over €2 billion a year,” Shortall said in a statement this afternoon.
“Despite this excessive cost, these reliefs receive far less attention than, for instance, the cost of Child Benefit which has a similar price tag.
The former junior minister – who quit the Labour parliamentarty party amid the row over the performance of James Reilly as Minister for Health, but who remains an ordinary party member – said the figures highlighted a “profound imbalance” in Ireland’s pensions policy.
“Those who have the most, gain the most out of the current system,” the Dublin North-West TD said.
“Indeed, this is just the tip of the iceberg. If income distribution data were available for other pension arrangements, it is certain that the total cost of providing tax breaks for high earners would be much higher.”
The TD has called for the Budget measures being enacted next month to reduce the annual cap on pension contributions for which employees can claim tax relief.
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Good response, don’t allow the guy to become a martyer.
They said the same about Bin Laden.
They also did the same with Che Guevara. Cut him up and scattered him so there would be no grace to worship. Well that didn’t work out so well did it!
*grave
May he rot in hell .
Roast?
He didn’t deserve to be buried in European soil. He’s body should have been cremated and the ashes flushed down the toilet like sewage!!
They wouldn’t do that to a crisis actor.
Exactly.Considering most muslim leaders have said his actions were unislamic I dont think anyone would have minded if he was not afforded a muslim burial.Being buried in an unmarked grave might sound bad to non muslims but its standard practice in Islam.The late Saudi king will be buried in an unmarked grave later today.
It was a great idea to bury him with his ass sticking out of the ground, outside a Synagogue, – for Jews to park their bikes.
What an incredibly bizarre statement.
I am quite intrigued by your creativity.
Bizarre, creative, – thank you…
- the ultimate compliments…
Perverse
his body should have been put on the plane to Mali and let them worry about it
I guess with an unmarked grave this piece of trash won’t get his virgins and paradise after all. All he got was an unmarked piece of rotten soil no good for even growing on. He got his just deserts.
And yet they refused to bury a baby last week…
Great point Charles !
A particular cemetery refused. Not the whole country.
Should have been fed to a load of pigs
Will the leaders of the West who were responsible for the Libyan intervention and the deaths of tens of thousands of innocent civilians, not just a few, will they be buried in unmarked graves?
Big difference between collateral damage and intentionally setting out to kill innocent people.
Whilst I am no America basher or tin foil hat wearer, just a history enthusiast, there are countless cases of Americans targeting civilians purposely, especially in the Vietnam war. Although most of it was probably never sanctioned from the top, it certainly did happen. Look up the Mai Lai massacre for one example. Unbelievable that the commanding office of the unit involved in that massacre is now a senator.
Some really classy comments here on this story. Makes one wonder and despair in equal measure.
Should have left the carcass in a field and let the wildlife feed off it.
Sorry two weeks ago.
Throw his remains to some starving dogs
Burning in Hell… What more could evil people deserve… He was autopsied too and might have been shot by a police woman…
Should’ve just tossed him into the sea for the crabs to chew on
Burn the fecca
He would be accepted in Dundalk.
Wanna qualify that statement Tap?
He won’t. He always makes weird little comments then runs off without trying to back them up.
@tap you are a thick ignoramus out looking for attention, get a life and act your age!
have your say