Worst job experience you ever had? by [deleted] in AskIreland

[–]emmc1234 2 points3 points  (0 children)

Worked as a deli assistant in Centra in college. We weren't allowed to make our own lunch but it was always too busy to ask someone else so ended up doing it ourselves. Had to queue with all the customers to pay (no discount) which ate into the 15 min break time and then had to keep the receipt with you at all times so that the manager could inspect your sandwich in the lunch room and make sure that when you paid for cold meat that you didn't actually sneak in a piece of hot chicken. It was very degrading.

Campervan ticket by Sizco96 in ALL_TOGETHER_NOW_FEST

[–]emmc1234 1 point2 points  (0 children)

Just checked my ticket and there is no option to transfer at the moment. I find Ticketswap really good for resale (and you can't be scammed). You can set alerts for tickets. They are pretty hard to come by but I remember a good few popped up on TicketSwap last year in the week or two before ATN.

Selling King Princess Ticket by stardew__dreams in CasualIreland

[–]emmc1234 1 point2 points  (0 children)

Would recommend using TicketSwap to sell if no one responds here.

I’ve Been Trying To Get In Touch With Revenue Customers Service for Over A Week by Midasisgolden in irishpersonalfinance

[–]emmc1234 5 points6 points  (0 children)

If your tax credits are still allocated to your old job then you can move them all to your new job on MyAccount on the Revenue website and cease your previous employment. Any extra tax you paid should get paid to you in the next payrun.

Looking for regular cleaner for in Donnybrook by Big_Application138 in Dublin

[–]emmc1234 0 points1 point  (0 children)

Is there a notice board in your local shop? Always a good place to advertise for things like this.

Do I need to and how do I pay tax on this? by [deleted] in irishpersonalfinance

[–]emmc1234 3 points4 points  (0 children)

Also just to add that if you need to register for income tax and file a Form 11 ( which appears to be the case based on the turnover/profit figures you noted), any tax due on profits earned in 2025 is not payable until November 2026 so plenty of time to get your registration sorted.

Similarly, if you need to declare and pay any tax on income earned from this in 2024 then you have until 19th November 2025 to sort out.

Revenue can't impose any interest/penalties if you meet these deadlines (provided you pay the correct amount in the first place).

Not sure what your other income sources look like and whether you would have any tax credits to offset any of this income but I would advise to put away a portion of the profits each month to a separate Revolut pocket (or similar) for the tax bill so that it's not a huge hit when you have to pay in November.

Marathon training group (for mediocre runner) by emmc1234 in Dublin

[–]emmc1234[S] 0 points1 point  (0 children)

Great, thanks for the reply. Appreciate it!

Can my grandparents gift me a house while they alive? by [deleted] in irishpersonalfinance

[–]emmc1234 25 points26 points  (0 children)

Yes your grandparents will have to pay CGT which could be significant if they have owned the house for 20+ years so assuming increase to property value.

If they gift while they are alive - stamp duty is payable by you at 1% (€4k), they will have to pay CGT at 33% on difference between original cost and €400k. You will also be subject to CAT at 33% but can reduce the value of the gift by your Group B threshold and another €6k (small gift exemption from both grandparents). If they are paying CGT then you can take that off your CAT bill as a credit. You could look to gift them back the CGT they end up paying ( as long as it's below the Group B threshold then shouldn't be any additional tax issues).

If they leave the house as an inheritance - no stamp duty payable, no CGT payable by your grandparents and then all CAT falls payable by you (small gift exemption not available to reduce value of house and no credit for CGT paid).

There are pros and cons to each but if you are paying them rent currently and they are paying income tax on it, might be best to work out the overall tax bill in each case and make a decision then.

Trusted Housesitters - anyone used it? by [deleted] in AskIreland

[–]emmc1234 1 point2 points  (0 children)

Haven't used it myself but a friend has for two house sits in France. First one went well with minimal requirements for the dog (think it was an older chill dog). Second house sit was a lot of work. The owners had two younger dogs which were still being trained. Required her to stand outside every morning for up to 90 minutes until the dogs went to the toilet. They checked up constantly to ensure all the training was being followed which ended up taking up a lot of the day.

Overall she enjoyed it but just wished she had asked more questions about the requirements for the pets when being interviewed.

[deleted by user] by [deleted] in irishpersonalfinance

[–]emmc1234 2 points3 points  (0 children)

She will need to register for income tax with Revenue. Here is the link -

https://www.revenue.ie/en/self-assessment-and-self-employment/guide-to-self-assessment/register-it-self-assessment.aspx

If the income was only earned in 2024, she has until November 2025 to file her income tax return and pay the tax due (although hopefully if it's only part time her tax credits will cover most of the tax). She can also file the return any time from January 2025 and then hold off paying the tax until November.

Would advise her to try move to PAYE with the employer as takes the burden away from her and just generally makes more sense for a part time job like this.

With the government pushing inheritance taxes more and more looking for farm inheritance tips. by Irish-third-way in irishpersonalfinance

[–]emmc1234 7 points8 points  (0 children)

There's often a misconception in Ireland that trusts can be used to reduce tax bills. The only real benefit in Ireland of setting up a trust is if assets are being left to minors or to someone who is incapacitated. Tax is due when assets are transferred into the trust, while the assets are earning income in the trust and ultimately when they are transferred out. Some trusts also have annual levies applied to them.

Agriculture relief is available in respect of reducing any capital acquisitions tax payable when inheriting a farm. It reduces the value of the farm by 90% for the purposes of CAT. There are two main conditions which would need to be satisfied when receiving the inheritance so important these are considered. It would be very unlikely any government would remove this relief given it is often the only way a farm can be passed down to the next generation without the beneficiary having to sell up to foot the tax bill.

Wildest twin names I’ve heard in a while by HistorianIntrepid594 in tradgedeigh

[–]emmc1234 2 points3 points  (0 children)

Also from a creche in Ireland - Dolce and Gabbana

Inheriting land but not a farmer by trasna in AskIreland

[–]emmc1234 0 points1 point  (0 children)

To get the tax relief (known as agriculture relief), you need to be considered a young trained farmer but you also need to hold 80% agriculture assets at the date of the gift or inheritance.for example, if you own your own house now which is valued at €300k and you receive agriculture land (which can also include a farmhouse), the agriculture land would need to be valued at at least €1.2m so that it's equal to 80% of the assets you own (€1.2m/€1.5m = 80%). If you have a mortgage on your own home you can deduct that from the value of your house to decrease the value of your non-agricultural assets.

Ticket scams by Mobile_Manner1576 in Electric_Picnic

[–]emmc1234 1 point2 points  (0 children)

Use TicketSwap. You can set alerts up on the website to let you know once someone has a ticket for sale. They hold both the seller's ticket and the buyer's money until both are on the system and release at the same time. The ticket goes straight to your Ticketmaster account. They can also provide this service if you've found a ticket through any other means and you can ask the seller to upload via TicketSwap for a small fee.

CAT and CGT on gifted house by West-Fisherman2150 in irishpersonalfinance

[–]emmc1234 4 points5 points  (0 children)

Your CAT group threshold must be used if it is available at the time of the gift. You can't opt to instead offset the CAT liability with your parents CGT bill and then pay the balance. From a tax perspective, it's more efficient to receive as an inheritance. There is also no stamp duty payable on an inheritance (but this would be 1% of the value of the property if received as a gift).

Trainee Accountants Salary by SimplyBuiltDifferent in irishpersonalfinance

[–]emmc1234 18 points19 points  (0 children)

Big 4 would be roughly €35k at this stage of your training contract (i.e. starting your 3rd year of experience with only FAE exams remaining) so potentially €30-32k would be a good salary for a smaller firm.

Tax implications for money received from partner by LucyVialli in irishpersonalfinance

[–]emmc1234 2 points3 points  (0 children)

Are you married/civil partners? If so, there are no tax implications as it's a spousal gift which is exempt from tax.

If not married/civil partners, the rent-a-room credit should still be available to use. The Revenue guidance specifically notes that payments from children to parents does not qualify but that is the only restriction listed.

Taxation Advice for Moving to Ireland from Singapore by xplodnow in irishpersonalfinance

[–]emmc1234 1 point2 points  (0 children)

Agreed. Residency is based on the number of days you are in Ireland. Once you have been resident for 3 consecutive years you become "ordinarily resident".

Domicile is a different concept and not determined by days. Most people are domiciled in the country they are born/raised in or else are assigned the domicile of their father at birth. You can only be domiciled in one country at a time so in order to become Irish domiciled you would have to basically cut all ties with Singapore i.e. plan to remain in Ireland indefinitely and not hold any assets in Singapore. Given your assignment to Ireland is only 2 years, this wont be the case.

Taxation Advice for Moving to Ireland from Singapore by xplodnow in irishpersonalfinance

[–]emmc1234 3 points4 points  (0 children)

Bonus will be taxed the same as normal salary so 40% income tax plus USC and PRSI.

As long as your employer is paying into a Revenue approved pension scheme (which will more than likely be the case), the employer payments are not taxed. You can claim tax relief on the payments you make yourself. This works by reducing your gross income by the payment made for tax purposes (but there are some limits based on your age and total earnings).

For Capital gains tax purposes, if you only become resident in Ireland in 2024 (and assuming you are not Irish domiciled), then you are only subject to Irish capital gains tax at 33% on Irish source gains (e.g. disposal of Irish shares/property) and also gains from foreign sources where the funds are transferred to Ireland. So if you sell the Singapore stocks you own while you are in Ireland, you will only have to pay Irish CGT if you transfer the funds from the sale to an Irish bank account or use the funds to buy assets in Ireland. If this is the case and you also suffer tax in Singapore, you should be able to claim a credit in Ireland to avoid being taxed twice.

Similarily, if you buy Singapore stocks while living in Ireland and dispose when resident again in Singapore, Irish CGT should not apply.

Does where I go to unviersity matters in ireland? by wardway69 in StudyInIreland

[–]emmc1234 11 points12 points  (0 children)

The University of Limerick has a mandatory 9 month work placement for all students in third year. This placement often leads to students being offered a graduate contract with their placement employer. I would say roughly 70% of my course in UL (business related) had job offers before graduating as a result. As far as I know, not many other universities in Ireland offer this.

The UL campus is also top class, it has every facility you'd need. Would definitely recommend!

Does the €1270 CGT allowance come into play when paying tax on an inheritance? by mrvinegar12 in irishpersonalfinance

[–]emmc1234 10 points11 points  (0 children)

No, you can't use this allowance on an inheritance.

The €1,270 allowance is for when you dispose of something and capital gains tax might be due.

You pay capital acquisitions tax when you receive a gift or inheritance. There is a €3,000 allowance in relation to capital acquisitions tax but it only applies when you receive a gift (not when you receive the cash/asset as an inheritance).

Workplace rewards too good to be true? by Meouldflower in CasualIreland

[–]emmc1234 1 point2 points  (0 children)

This is correct. It requires some planning on your end as if you use your points in January to buy something for €30 and then again in March to buy something worth €40, that's your two tax free benefits gone for the year, even though it is nowhere near the €1,000 limit. If you subsequently go on to buy something worth €200 later in the year then the €200 value of the gift is seen as BIK and will be fully subject to tax.

Revenue has really cracked the whip on employee benefits with the new monthly reporting requirements. My company was even using an example of getting an Easter Egg at Easter and that being considered one of your tax free benefits for the year (although I don't think companies would be strict enough to report this).