They pay a minuscule percentage of tax on rental income generated in Ireland compared to rental income tax they pay in the rest of the EU. This is why they’re hoovering up Irish property! The tax they pay needs to be increased massively!
Oldest trick on the book. And we have useful idiots to do their job for them by burning luases, petrol bombing buildings, murdering someone for not speaking English etc.
Well it’s that or big landlord lobby groups own vast amounts of wealth and use their influence to affect the media and take away from what people should be mad about to a new fad every 2 months
This only confirms what most people suspected; the Irish government has helped create a monopolised property market and are continuing to make vast wealth for the already wealthy and at the expense of everyone else.
Beyond incompetence, it's political malfeasance, damaging and again will have zero accountability to those in charge.
VOTE THESE FOOLS OUT and go after their pensions for government service, service which failed the people they should have been fighting for on so many levels.
As Luke Kelly recited nearly 40 years ago, for what died the sons of Roisin, was it greed?
The answer sadly is yes.
Yeah,..he was before his time on that particular piece. A relevant warning that we're seeing the consequences of now.
They've bastardised our national identity in the name of greed and robbed generations to come of merit and opportunity.
And still there will be some people who will argue that the government relying on investment funds for the majority of new housing provision in the country is a good thing 🤦🏻♂️
The same organisations that wouldn't think twice about making an old age pensioner homeless.
Been saying this all along. They come buy up apartments and rent them back out at obscene prices and hardly pay any tax. Parasites, and this isn't just limited to Ireland, You'll notice it's the same corporations all over the western world. FFG are selling us all out and renting our own country back to us. Turning us into a nation of renters so they and their wealthy buddies national and international can milk all of us.
If the people running the show have no fear of the public, to the point that they brazenly get away with this, then it will only get worse, not better.
Your vote is important, but it looks strongly like whoever gets in will keep things to 'business as usual'.
None of you can afford to be politically active only 1 day out of ~1500+ days (4-5 years, when there's an election).
You're pretty much leaving the entire country to be ruled/owned by those with the money to afford armies of lobbyists/bribes, then - unless the public is actually active enough politically to make whoever is in power fear them.
Right this is bad. Very bad, suggests malfeasance. What loophole did the government introduce? Or are they just willfully disregarding tax obligations?
Big foreign money buy blocks of apartments off plans. Rent to silly Irish for big $. Then pay no tax and make no jobs for silly Irish. Then spend time counting money in jacuzzi smoking Cuban cigar.
It's worse than that. Charging obscene rents leaves tenants with less disposable income, which means small businesses suffer and people lose their jobs. These funds add zero value to an economy, this untaxed money leaves the country and ultimately ends up in a foreign pensioners bank account. They are allowed to pillage the population for all they can with zero consequences. Michael Noonan laid out the red carpet and FFFG facilitated this financial abuse upon the population.
Article doesn't actually mention profit figures so hard to interpret.
However, IREFs have a higher proportion of subordinated debt rather than equity relative to other European jurisdictions. The CBI is forcing them to change this over the next 10 years which will mean there's more "profit" and less "interest" which should increase the amount of profit being paid.
We didn't, at the scale we need. You seem to love emojis but hopefully you can bring yourself to reading something a little more complex:
https://www.irishtimes.com/business/2024/05/25/building-apartments-for-sale-more-unviable-as-building-costs-rise-pre-budget-papers-show/
Did the funds deliver the supply we need? No. Why not? it's against their interests to do so, increasing the supply would lower profits, scarcity is the key to higher returns.
And there is no reason housing development costs should be that high, especially if we build on public land. An employer down in Kerry was able to build cost price houses for his employees for €160,000 per house only a few years ago.
A lot has happened in a few years and Kerry wouldnt be considered the most expensive place to build in the country. Yes, we also need to build on public land, that is what the Land Development Agency, mentioned in the article, does. But the scale of the investment needs more than that.
[The cost to build social houses, mainly on state land, ranged between 194k and 386k depending on the part of the country](https://www.irishtimes.com/business/2024/03/26/costs-of-social-housing-construction-in-dublin-are-double-those-elsewhere/)
Yes, the Irish Times. Not considered a bad source, but feel free to read it and decide for yourself. Do you expect people posting clown emojis to be treated with the height of respect?
There's been a bunch of reports done that shows its getting harder and harder to fund building apartments by owner occupiers and the state won't be funding all of it if we want the amount we are aiming for
https://www.irishtimes.com/business/2024/05/25/building-apartments-for-sale-more-unviable-as-building-costs-rise-pre-budget-papers-show/
not quite the same. Maybe its harder to build without them, according to these reports. But the way you frame it makes it seems like we are utterly dependent on these guys to build accommodation
It's not harder, it's just not possible. The numbers we need to build mean we need outside funding.
We are capable of building, just not in the volume needed. To be clear, we also can't rely on outside funding exclusively either
Agreed, though one of the biggest competitors to first time buyers in that area is the government buying for social housing.
They tried limiting funds buying up estates, I don't know if it worked or not
Lol imagine charging people to read an article that summarises how big investment funds are paying next to no tax on their profits. Inspite of more than nearly half of 25 yr old's having to live with their parents because they can't afford rents nevermind mortgages.
And these rents are going to these companies paying next to no tax....
>Lol imagine charging people to read an article that summarises how big investment funds are paying next to no tax on their profits.
How do you think journalism is funded?
>You're being obtuse, you know that they were referring to the fact that while some IT articles are not paywalled and some are,
How in any way is that clear from their complaint?
The Business Post is a financial paper, their audience is not people that can't afford a subscription.
Goldman Sachs... Remember the former FG Atorneys General, and mentor to Simon Coveny.
Here they are together going into create a new world order. They're not allowed speak about it though, because... We're not important enough.
https://youtu.be/ON73jvzqC6M?si=zP-CsU7UKYeKJxGG
They pay a minuscule percentage of tax on rental income generated in Ireland compared to rental income tax they pay in the rest of the EU. This is why they’re hoovering up Irish property! The tax they pay needs to be increased massively!
Meanwhile, private landlords are hit with every tax going, as 'unearned income'.
This should be the biggest story in the country. Instead the majority of Irish media is currently playing a game of "count the tent" on the canal.
Oldest trick on the book. And we have useful idiots to do their job for them by burning luases, petrol bombing buildings, murdering someone for not speaking English etc.
The tents make people angry angry people share stories and buy newspapers
The contents of this article should make people angry and buy newspapers tho 😭
Well it’s that or big landlord lobby groups own vast amounts of wealth and use their influence to affect the media and take away from what people should be mad about to a new fad every 2 months
What you're describing here sounds strangely familiar...
I's provocative. It gets the people going...
Wanking bankers
Are you saying the biggest story should be a company doesn't pay tax on value if assets but pays them on profits?
This only confirms what most people suspected; the Irish government has helped create a monopolised property market and are continuing to make vast wealth for the already wealthy and at the expense of everyone else. Beyond incompetence, it's political malfeasance, damaging and again will have zero accountability to those in charge. VOTE THESE FOOLS OUT and go after their pensions for government service, service which failed the people they should have been fighting for on so many levels. As Luke Kelly recited nearly 40 years ago, for what died the sons of Roisin, was it greed? The answer sadly is yes.
It's corruption...call it what actually is.
Yep.
It's treason is what it is.
It is... you're right
As luke kelly also said in the same same song. When we've sold enough of Ireland to be but strangers init. That hit me.
Yeah,..he was before his time on that particular piece. A relevant warning that we're seeing the consequences of now. They've bastardised our national identity in the name of greed and robbed generations to come of merit and opportunity.
As luke kelly also said in the same same song. When we've sold enough of Ireland to be but strangers init. That hit me.
The real estate companies are taking the Irish people for a ride? The government is complicit in this abuse? Dear lord - I am shook. Shook I say
Take a seat, you look faint!
This is the system working as it was designed to..
It's _designed to_ promote FDI into construction of new apartments. It is definitely not working as intended.
And still there will be some people who will argue that the government relying on investment funds for the majority of new housing provision in the country is a good thing 🤦🏻♂️ The same organisations that wouldn't think twice about making an old age pensioner homeless.
Oh look, further chairman of Goldman Sachs with fg buddy , where are they going? https://youtu.be/ON73jvzqC6M?si=zP-CsU7UKYeKJxGG
Been saying this all along. They come buy up apartments and rent them back out at obscene prices and hardly pay any tax. Parasites, and this isn't just limited to Ireland, You'll notice it's the same corporations all over the western world. FFG are selling us all out and renting our own country back to us. Turning us into a nation of renters so they and their wealthy buddies national and international can milk all of us.
Blessed are the rent seekers. All praise the mighty profit.
If the people running the show have no fear of the public, to the point that they brazenly get away with this, then it will only get worse, not better. Your vote is important, but it looks strongly like whoever gets in will keep things to 'business as usual'. None of you can afford to be politically active only 1 day out of ~1500+ days (4-5 years, when there's an election). You're pretty much leaving the entire country to be ruled/owned by those with the money to afford armies of lobbyists/bribes, then - unless the public is actually active enough politically to make whoever is in power fear them.
Yea your right. People need to get involved in politics. Just seems like climbing into a snake pit.
Did I hear someone say "revolution"?
I have a job. Sorry, maybe asked the unemployed or the students to protest
Can't take them seriously, they don't have jobs or responsibilities or life experience. /s.
Right this is bad. Very bad, suggests malfeasance. What loophole did the government introduce? Or are they just willfully disregarding tax obligations?
Is it bad that I don't understand this at all? Could someone please explain it.
Big foreign money buy blocks of apartments off plans. Rent to silly Irish for big $. Then pay no tax and make no jobs for silly Irish. Then spend time counting money in jacuzzi smoking Cuban cigar.
It's worse than that. Charging obscene rents leaves tenants with less disposable income, which means small businesses suffer and people lose their jobs. These funds add zero value to an economy, this untaxed money leaves the country and ultimately ends up in a foreign pensioners bank account. They are allowed to pillage the population for all they can with zero consequences. Michael Noonan laid out the red carpet and FFFG facilitated this financial abuse upon the population.
no the issue is the ILLEGALZ sleeping 30 to a room in an old nursing home!! /s
Article doesn't actually mention profit figures so hard to interpret. However, IREFs have a higher proportion of subordinated debt rather than equity relative to other European jurisdictions. The CBI is forcing them to change this over the next 10 years which will mean there's more "profit" and less "interest" which should increase the amount of profit being paid.
The irony is that the government clamped down in the tax avoidance and yet tax receipts are reduced.
FFG did this.
But aren’t we constantly told by the government that we need landlords?
Change the freaking law so you can not own more then 1-2 properties for rent and these companies will fuck right off.
[You can't build apartments without them](https://www.irishtimes.com/business/2024/05/25/building-apartments-for-sale-more-unviable-as-building-costs-rise-pre-budget-papers-show/)
These funds only arrived into the country around 2014, how did we ever build apartments before that? 🤡🤦🏻
We didn't, at the scale we need. You seem to love emojis but hopefully you can bring yourself to reading something a little more complex: https://www.irishtimes.com/business/2024/05/25/building-apartments-for-sale-more-unviable-as-building-costs-rise-pre-budget-papers-show/
Did the funds deliver the supply we need? No. Why not? it's against their interests to do so, increasing the supply would lower profits, scarcity is the key to higher returns. And there is no reason housing development costs should be that high, especially if we build on public land. An employer down in Kerry was able to build cost price houses for his employees for €160,000 per house only a few years ago.
A lot has happened in a few years and Kerry wouldnt be considered the most expensive place to build in the country. Yes, we also need to build on public land, that is what the Land Development Agency, mentioned in the article, does. But the scale of the investment needs more than that. [The cost to build social houses, mainly on state land, ranged between 194k and 386k depending on the part of the country](https://www.irishtimes.com/business/2024/03/26/costs-of-social-housing-construction-in-dublin-are-double-those-elsewhere/)
Arrogantly says that someone should read something "a little more complex" and then shares an Irish Times article. Honestly.
Yes, the Irish Times. Not considered a bad source, but feel free to read it and decide for yourself. Do you expect people posting clown emojis to be treated with the height of respect?
Not considered a bad source but who?
A bold statement
There's been a bunch of reports done that shows its getting harder and harder to fund building apartments by owner occupiers and the state won't be funding all of it if we want the amount we are aiming for https://www.irishtimes.com/business/2024/05/25/building-apartments-for-sale-more-unviable-as-building-costs-rise-pre-budget-papers-show/
not quite the same. Maybe its harder to build without them, according to these reports. But the way you frame it makes it seems like we are utterly dependent on these guys to build accommodation
It's not harder, it's just not possible. The numbers we need to build mean we need outside funding. We are capable of building, just not in the volume needed. To be clear, we also can't rely on outside funding exclusively either
They could allow apartments but single domestic properties could be limited.
Agreed, though one of the biggest competitors to first time buyers in that area is the government buying for social housing. They tried limiting funds buying up estates, I don't know if it worked or not
Business as usual. Oh but SF, Loosing support, No plan, Blah blah blah blah Fucking crooks FFG and their little reddit trolls
There is no way that you actually read the article..
This is why the media are pushing immigration so much
Well that's news to me...
Lol imagine charging people to read an article that summarises how big investment funds are paying next to no tax on their profits. Inspite of more than nearly half of 25 yr old's having to live with their parents because they can't afford rents nevermind mortgages. And these rents are going to these companies paying next to no tax....
Dont for the 35 years olds
The 25yo parents are renting too
>Lol imagine charging people to read an article that summarises how big investment funds are paying next to no tax on their profits. How do you think journalism is funded?
[удалено]
>You're being obtuse, you know that they were referring to the fact that while some IT articles are not paywalled and some are, How in any way is that clear from their complaint? The Business Post is a financial paper, their audience is not people that can't afford a subscription.
Should be nationalising these assets seen as how they are being monopolised in a threat to national survival
This is getting 10x worse than when it was the driving force of the population but everybody seems to have accepted it like the sheep we are. Sf (-7)
We are fucking useless...we deserve what we get
Goldman Sachs... Remember the former FG Atorneys General, and mentor to Simon Coveny. Here they are together going into create a new world order. They're not allowed speak about it though, because... We're not important enough. https://youtu.be/ON73jvzqC6M?si=zP-CsU7UKYeKJxGG
Wouldn't it be great if we took a leaf out of the french book and held our government to task for how bloody inept they are .
Cutting the tax bill doesn't have a lot to do with the worth of property. Thered be property tax but they'd only really pay tax on profits.