Property tax exemptions – 2013 Finance Bill ammendment

The list of exempted properties is in the new property tax amendment to the 2013 Finance Bill.  Charities, properties held in trust, and those occupied by incapacitated people (within the meaning of section 189A(1) of the Act of 1997).

Of interest is section 7 which covers social housing. While access to social housing at the time of admission is normally due to diminished means of housing affordability, the upkeep, location and cost to local authorities is much higher than it would be for an equivalent private house. And a person in a social house is not removed should they become wealthier (their rent does increase).

Defaulting everybody in social housing into the lowest band places the same tax burden on people who may be at very different points in their career (and earnings capacity), it also doesn’t distinguish allowing for different groups within the social housing spectrum – there is a large difference in affordability between a younger single mother and an older couple with grown …

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The road less travelled and life in the new world

I wrote Monday night/Tuesday morning about buying distressed stocks. So yesterday morning I bought Anglo Irish at €2.94 and today they are sold for €4.55 meaning that the idea brought in a 55% in just over 24 hours, it was risky, yes, but it also brought a return that would take about 7 years in a deposit account. Taking into account capital gains tax it is still 45% clean and clear (although I won’t have any as this is the first stock I sold and it the profit didn’t exceed the €1,270).

However, the point being made by the post yesterday was that it is a time of volatility, it is a time of risk and there are problems in the world, but there is also still PROFIT! The type of trading I did is also not advisable for the average person due to the risk attached, as stated in the first post I was willing to lose, to realise a total loss, if you don’t have the stomach …

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