income Archives - MyHome.ie Advice & Blog

More than a million people could not afford ‘basics’ in 2013

More than a million people suffered enforced deprivation in 2013, more than double the rate prior to the economic crash, according to new figures from the Central Statistics Office (CSO). The new figures are contained in the CSO’s survey on income and living conditions. “Enforced deprivation” is…

First-time buyers in Dublin spend 24% of net income on mortgages

Mortgages & Money, Property News

The annual cost of a mortgage for first-time buyers has risen again in Dublin but remains stable outside of the capital, according to the latest EBS/DKM quarterly affordability index. The index measure the proportion of after-tax income is required to meet the first year's mortgage…

Average family income down €300 since austerity began

General, Home, Mortgages & Money

The average family in Ireland has seen its disposable income fall by €300 per month and the amount of tax they pay doubled, according to pre-budget analysis released by Grant Thornton. The research calculates the impact of the introduction of new taxes like the universal…

Rent rises down to a "taxsault" on landlords, say IPOA

General, Home, Mortgages & Money, Property News, The Investor, The Overseas Investor, The Renter

Rental rates in some parts of the country are increasing, but this is down to the new direct and indirect taxes levied on landlords, which the Irish Property Owners Association (IPOA) has dubbed a "taxsault" on property. "Private landlords cannot be expected to subsidise the…

Government change rules on rent allowance

General, Home, Mortgages & Money, Property News, The Renter

The Government is to allow Social Welfare recipients who have been receiving Rent Supplement for more than 18 months to work full-time without losing the entire subsidy. Ministers said in a statement that the transfer from Rent Supplement to a new Housing Assistance Payment…

Fewer Irish people saving

General, Home, Mortgages & Money

Fewer Irish people are saving money because of the ongoing pressure on disposable income caused by austerity and recent hikes in Dirt tax. According to the Nationwide UK (Ireland)/ESRI Savings Index, regular saving has declined across all age groups with only 32 per cent…

Disposable income in Irish households up 2.5%

General, Home, Mortgages & Money

The disposable income of Irish households rose by 2.5 per cent last year as a result of higher wages and increased profits of the self-employed. Figures published by the Central Statistics Office (CSO) show households’ gross disposable income rose to €86.27 billion last year, up from €84.19…

More than half of us borrow to pay essential bills

General, Home, Mortgages & Money

More than half of Irish households are forced to borrow money to pay essential bills, according to a new survey from uSwitch.ie. The report founds that 57% of us dip into savings or borrow from family and friends in order to make ends meet while…

Property tax may be able to be deducted from tax returns

General, Home, Mortgages & Money, Property News, The Investor, The Overseas Investor, The Renter

Property investors and landlords will be able to deduct the new Local Property Tax from their rental income when filing a tax return. At present the non-principal private residence (NPPR) tax and the household charge are not allowed as expenses when landlords are workout out…

Sinn Féin to mount campaign against property tax

General, Home, Mortgages & Money, Property News

Sinn Féin is to mount a campaign to repeal the Local Property Tax, which is due to come into force in July. The opposition party said the new tax would hurt those on lower and middle incomes and social welfare the most. Party leader Gerry…