The key importance of housing in a functioning society is surely obvious to all at this stage
But bizarrely being a Landlord is treated with such disdain by society.. even to the point where it’s the only business I’m aware of that pays tax on its turnover and not on its profit.
You pay USC on your gross but only Income Tax on your profit m8.
Landlords can write off Mgmt Fees, Mortgage Interest, Cleaning etc, then if for example you install a new kitchen you get capital allowances going forward. Capital Allowances mean you might not pay Income Tax for years.
It's not as bad for landlords as they make it out to be.
You pay USC on your gross but only Income Tax on your profit m8.
Landlords can write off Mgmt Fees, Mortgage Interest, Cleaning etc, then if for example you install a new kitchen you get capital allowances going forward. Capital Allowances mean you might not pay Income Tax for years.
It's not as bad for landlords as they make it out to be.
I’m not a business or landlord m8! I’m an employee and I pay tax on my income.
A business pays tax on its profit. A landlord in Ireland pays tax on his total rental income with an extremely limited number of write offs.
There are legitimate reasons why landlords are selling up and leaving the market in their 10s of thousands.
The key importance of housing in a functioning society is surely obvious to all at this stage
But bizarrely being a Landlord is treated with such disdain by society.. even to the point where it’s the only business I’m aware of that pays tax on its turnover and not on its profit.
"Rentier capitalism describes the economic practice of gaining large profits without contributing to society.[1][2][3] A rentier is someone who earns income from capital without working. This is generally done through ownership of assets that generate yield (cash generated by assets), such as rental properties, shares in dividend paying companies, or bonds that pay interest.[4]
Modern economists agree that the power dynamics of the rentier-tenant relationship are oppressive,[5][6] but capitalist theories such as the natural "euthanasia of the rentier" famously put forth by John Maynard Keynes have been abandoned in light of the increase in rent-seeking behavior seen over the past century"
Basically, having lots of people earning large amounts of money by just having lots of money and contributing fuck all to society is generally a bad thing.
I will also admit to having previously been a landlord, so I think I can safely assert that this isn't about criticising individuals as such, it's criticising structures in society that support the inequality rentier capitalism exacerbates.
Also, on the landlord thing, the famine has had somewhat of a cultural influence on that front...
I’m not a business or landlord m8! I’m an employee and I pay tax on my income.
A business pays tax on its profit. A landlord in Ireland pays tax on his total rental income with an extremely limited number of write offs.
There are legitimate reasons why landlords are selling up and leaving the market in their 10s of thousands.
"Rentier capitalism describes the economic practice of gaining large profits without contributing to society.[1][2][3] A rentier is someone who earns income from capital without working. This is generally done through ownership of assets that generate yield (cash generated by assets), such as rental properties, shares in dividend paying companies, or bonds that pay interest.[4]
Modern economists agree that the power dynamics of the rentier-tenant relationship are oppressive,[5][6] but capitalist theories such as the natural "euthanasia of the rentier" famously put forth by John Maynard Keynes have been abandoned in light of the increase in rent-seeking behavior seen over the past century"
Basically, having lots of people earning large amounts of money by just having lots of money and contributing fuck all to society is generally a bad thing.
I will also admit to having previously been a landlord, so I think I can safely assert that this isn't about criticising individuals as such, it's criticising structures in society that support the inequality rentier capitalism exacerbates.
Also, on the landlord thing, the famine has had somewhat of a cultural influence on that front...
"Rentier capitalism describes the economic practice of gaining large profits without contributing to society.[1][2][3] A rentier is someone who earns income from capital without working. This is generally done through ownership of assets that generate yield (cash generated by assets), such as rental properties, shares in dividend paying companies, or bonds that pay
I’m not a business or landlord m8! I’m an employee and I pay tax on my income.
A business pays tax on its profit. A landlord in Ireland pays tax on his total rental income with an extremely limited number of write offs.
There are legitimate reasons why landlords are selling up and leaving the market in their 10s of thousands.
en.m.wikipedia.org
