Commission highlights anomalies which could see earnings fall on foot of rises

Over 25,000 students a year competing for private rental accommodation – HEA

For further details see article in Irish Times at following link:…
http://bit.ly/1Iij1QX

A tiny number of home-buyers have benefited from a scheme to give them relief from paying DIRT tax when saving for a deposit to buy a home.

For further details see article in Irish Independent at following link:…
http://bit.ly/1gx08Uj

The Tax Institute received a lot of questions from members on CAT Agricultural-Relief, following the changes to the relief in Finance Act 2014. They have been engaging with Revenue at the TALC Capital Taxes sub-committee on these issues. Revenue has now released an FAQ today which addresses members’ most common questions on the relief, including on:

•How to apply the “working time” test to part-time farmers and lessees.…
•Record-keeping requirements.
•Relief for forestry operations.
•The availability of relief when inheriting farmland that is already let.
•Multiple leases and breaks in leases.
•Retaining the farmhouse as a residence or holiday home while leasing the farmland.
•Claiming conditional relief, while studying for the required agricultural qualification.

About 47,000 registered properties have no indentifiable owner

For further details see article in Irish Independent at following link:…
http://bit.ly/1CfRzqL

One of the country’s biggest trade unions, Siptu, has called for a wealth tax as part of its campaign to abolish the Universal Social Charge.

For further details see article in Irish Independent at following link:…
http://bit.ly/1HxSlQf

People in excess of current limits on pension savings have until July 31st to notify Revenue

For further details see article in Irish Times at following link:…

http://bit.ly/1GWBViO

Complaints from members about fraud have increased in recent months, says lobby group

For further details see article in Irish Times at following link:…
http://bit.ly/1RsyeEd

Revenue has amended ROS to incorporate the revised RCT penalty regime which applies from 1 January 2015. Under the new regime where a principal contractor makes a payment to a subcontractor without the required deduction authorisation from Revenue, a penalty of 3% to 35% will apply. The rate depends on the tax status of the subcontractor. The principal is required also to report these ‘unreported payments’ to Revenue.

As ROS did not apply penalties to these payments from January to May, unreported payments made in those periods will be liable to a penalty once the June RCT return is filed. Revenue will issue a letter to the principal/agent’s ROS inbox in cases where a penalty applies

Appeals Commissioner rules Revenue wrong to levy tax on already indebted consumers

For further details see article in Irish Times at following link:…
http://bit.ly/1dO9tpc