AN ANNOUNCEMENT by the Revenue Commissioners that 115,000 pensioners will have to pay extra taxes due to an under-calculation of their liabilities, will cause further hardship for older people, according to Age Action.

Affected pensioners will be issued letters from the Revenue Commissioners within the next week informing them that they are liable for extra taxes this year.

The tax bills will affect people who are in receipt of both a State pension and a secondary private pension or salary.
The underpayments came to light after the Department of Social Protection sent records pertaining to 560,000 pensioners to the Revenue Commissioners.

 

Revenue to inform 115,000 pensioners of extra tax liability (Irish Times)

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5 thoughts on “Old News

  1. L

    grab, grab, grab! f**k sake!
    is this means tested in any way or is it a blind accounting excercise to make a few quid?
    What’s the fucking point in working all your life for the shit to be taxed out of any asset you might have built up, it is bad enough being taxed whilst trying to build up assets in the first place. Nursing homes cost a fortune and if you have anything at all to your name it will be stripped down gradually to pay – the state does not help if there is any way around it.

  2. Seamus Ryan

    Placing a few facts on the table, people who were pretending that they weren’t in receipt of private pension income while also claiming the full state pension shouldn’t be surprised. Tax is calculated on the basis of the entire income of an individual or couple, not just the part that you’d like the Revenue to know about.

    As the Irish Times mentioned this morning, the Revenue Commissioners have noticed at least 2500 instances where annual pension incomes were over €50,000. Did people think that the tax relief on pension investment was just to encourage them to save for later or something?

    As one might expect, the groups representing pensioners have decided to shout out on behalf of those in receipt of large pension incomes while ignoring those on small pension incomes (who have effectively been cheated by non-declaration of income by some of their more well-heeled peers).

    It’s something that should have been done a decade or more ago but that’s what happens when you have special people at the tiller.

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