Latest news with #AlanShatter
Irish Independent
10-06-2025
- Politics
- Irish Independent
Letters: Not all members of Jewish community oppose Trinity College Dublin's decision to cut ties with Israel
This is untrue. It ignores the many Jews in Ireland who support this action and those who worked towards it – the Jewish student activists, including a past chair of TCD's Boycott, Divest and Sanction (BDS) society, and the Jewish members of Academics for Palestine. It also ignores Jewish members of Trinity College's board which approved this decision. The assumption that 'the Jewish community' supports Israel is false. To conflate Jews and the Israeli state is false, and the biggest lie of all is that the boycott of Israel is antisemitic, as per the International Holocaust Remembrance Alliance (IHRA) definition. This is why many Jews, Holocaust scholars and groups such as the Irish Council for Civil Liberties, the Irish Congress of Trade Unions and the Irish Network Against Racism, oppose the IHRA and its use to silence criticism of Israel. Alan Shatter and Maurice Cohen, in their open letter to the chair of TCD's board, also fail to refer to the Jerusalem Declaration, signed by over 200 scholars worldwide, which specifically states that peaceful methods of protest such as BDS are not antisemitic. Just as the IHRA definition protects Israel, but not Jews, so too does the Jewish Representative Council of Ireland protect Israel. It does not represent the diversity of Jews when it represents the apartheid state and stays silent about genocide. Sue Pentel, Jews for Palestine Ireland, Belfast Where are international leaders calling out act of piracy on Madleen ship? The seizure by Israeli forces of the aid boat Madleen carrying Greta Thunberg and other campaigners, in my opinion, should be considered an act of piracy. However, there seems to be no inclination by leaders of the democratic world to hold Israeli leaders accountable for their actions. Michael Moriarty, Rochestown, Co Cork People need to curb their expectations – there are no quick fixes for anything We live in a world of growing and sometimes unrealistic expectations, with people seeking a silver bullet to solve issues. Alas, it's not so simple. Looking at our housing shortage there is no quick fix. Given the complexities of development – from rules and regulations to putting funding in place – a dramatic increase in supply is unrealistic. Our infrastructure – from sewerage to water and energy – also needs upgrading. As regards the health service, the issues of bed shortages and delays in treatment are never-ending. There is no magic formula to fix this. The best that can be achieved is a 20-year plan with incremental changes leading to the graph becoming positive. ADVERTISEMENT Learn more And if we looks beyond our shores, Jews and Arabs have been fighting for centuries. A solution will take years of slow, painstaking work. Russia will not put the interests of others before itself any time soon, but perhaps if they feel the chill winds from the rest of the world for long enough, another generation of Russians might see the folly of their ways. In people's own personal lives, change is slow and gradual. There is no such thing as the quick fix or shortcut, though modern society tries to sell us this old snake-oil mantra. Most successful people, be they from the world of sport, entertainment, or business, talk about the slow grind, the hard graft, the many years of failures before achieving their goal. Joseph Kiely, Letterkenny, Co Donegal Government must control public hospital capacity and ditch two-tier system Almost €2bn has been spent on the National Treatment Purchase Fund (NTPF) since its inception. Intended to reduce waiting lists, the NTPF has been a total failure, especially if you reside in the wrong part of the dystopian Irish health landscape. Many hospital consultants, employed by the State, continue to split their time between public hospitals and more profitable private practice. This 'have' and 'have-more' model diverts capacity away from public patients and fuels the two-tier system, where access is based on the ability to pay. The NTPF was supposed to provide a solution. Instead,it rewards private providers for doing work that should be performed within the public system. Worse, it creates a perverse incentive: the longer public lists grow, the more private work is generated, often by the very consultants whose time is being lost to the public service. If the Government is serious about delivering on Sláintecare's promise of universal, single-tier healthcare, it must re-assert control over public hospital capacity, reform consultant contracts and end the parallel system funded by the NTPF. We cannot buy our way out of this crisis. But one thing is certain, the most effective trade unions to operate in Ireland, those representing doctors, along with the private insurers, will absorb the current pressure, exert influence and the horror show will go on. Declan Doyle, Kilkenny US has clearly lost its way when reporter is shot from behind while doing job America used to be the country of the TV westerns where the good guys never shot the bad guys in the back. But those days are forgotten. We saw an Australian reporter in LA shot in the leg with a rubber bullet from behind. The Lone Ranger, a past symbol of what Americans thought they were, would be horrified. How far can they sink into the swamp that Donald Trump promised to drain. Fortunately the reporter is OK and back on the job. Dennis Fitzgerald, Melbourne, Australia LGBTQ+ community knows how to celebrate its diversity, as we all should Fair play to the LGBTQ+ community. They celebrate their status with the likes of 'Pride Month', 'Gay Week' and even 'Dyke Day'. Heterosexuals haven't even as much as a coffee morning. How about we start our own week. We could call it the 'Hetero Hullabaloo' or the 'Hetero Hooley'. P Canning, Address with editor Rescuers who captured runaway zebra Ed earned their stripes for sure Well done to the people who captured Ed the escaped zebra ('Ed the zebra airlifted home after week on run is ended,' Irish Independent, June 9). They certainly earned their stripes! Noel Kelly, Doonbeg, Co Clare
Irish Times
05-06-2025
- Business
- Irish Times
TCD's Israeli boycott draws criticism from Ireland's Jewish community
Trinity College Dublin 's decision to boycott Israeli institutions and universities will 'detrimentally impact' the college's global standing, particularly in the US, the Jewish Representative Council of Ireland has warned. In an open letter to the chair of TCD's board Paul Farrell, Maurice Cohen, a senior figure in Ireland's Jewish community, accused the university of a 'blatant violation' of the Equal Status Acts. In the letter, which was co-written with former minister for justice Alan Shatter , Mr Cohen also accused Trinity of violations of the Universities Act and relevant EU regulations, including those governing the Erasmus student exchange programme Trinity's board voted on Wednesday to cut all ties with Israeli universities and companies based in Israel over the conflict in Gaza in what is the first move by an Irish university to agree on the full divestment of interests in Israeli companies. READ MORE The boycott includes ending all academic and research collaborations and Erasmus student exchange programmes with Israeli universities. Trinity has two Erasmus+ exchange agreements with Israeli universities - one with the Hebrew University of Jerusalem, which ends next month, and the other with Bar Ilan University, which ends in July 2026. Mr Cohen and Mr Shatter said in their letter that boycotting Israeli academics, a majority of whom are Jewish and who include prominent critics of the Israeli government, amounts to 'anti-Semitism', according to the definition laid out by the International Holocaust Remembrance Alliance. 'It also constitutes discrimination against non-Jewish Israeli academics, of whom there are many in Israel's universities and research bodies,' they wrote. They argued that by boycotting Israeli academics and Israeli research institutions, Trinity is 'holding them collectively responsible for actions of the Israeli state'. The letter also criticised Trinity's board for failing to address 'Iran's sponsorship of the Houthis attacking international shipping and daily targeting Israel with ballistic missiles, its sponsorship of Hamas, Hizbullah and other terrorists groups'. The boycott vote followed a series of meetings of a taskforce set up between staff and student representatives at the university. The meetings were arranged as part of an agreement to end a five-day encampment that was set up on campus in May of last year in protest over the university's ties to Israel. The letter from Mr Cohen and Mr Shatter requests that the board immediately publish the report of the task force and 'cancel its premature decisions'. It also requests that before any further decisions, 'representatives of Ireland's Jewish community should be given the opportunity to consider and respond to the report' alongside Government and relevant departments. The Irish Times contacted Mr Farrell seeking his comment on the letter from Mr Cohen and Mr Shatter. Jenny Maguire, outgoing president of TCD' students' union, called the decision a 'historic win' that 'must be a catalyst for action across this island'.
Irish Times
06-05-2025
- Business
- Irish Times
Gift your way to a lower inheritance tax bill
Some people argue that it's only a minority who actually pay it, so why the fuss? Others, such as former minister Alan Shatter, describe it as 'State-sanctioned graveside robbery of assets'. But whatever side you're on, there's no doubt that reducing a tax bill on your life's work is something most people would look to do. When it comes to inheritance tax , or capital acquisitions tax (CAT) as it is more formally known, tax free thresholds are on the way up. The parent-to-child allowance now stands at €400,000; other close linear relatives is €40,000; and so called 'strangers', which includes cousins and in-laws, is €20,000. However, given the rapid rises in house prices over the past few decades, some families may feel that these levels are still too low. So, what should you do if you fear leaving your loved ones with a hefty tax bill? Gifting, or passing on your assets while you're still alive, may be one route to lower taxes. The author of a new report on inheritance tax planning has some tips on how to do it. READ MORE Tread carefully While once upon a time families may have been happy to leave bequests to be acted upon after their death, many are now being more proactive, mindful of potential tax bills that they might leave behind. Catriona Coady, head of tax at Goodbody Stockbrokers and author of A Lasting Legacy: Guide to Inheritance and Estate Planning in Ireland , says that people often start looking to gift during their lifetime after they've done their own financial review. 'I wouldn't rush to gift without having considered my own position,' says Coady. 'It mightn't be in your best interest to provide a lump sum to a child that you may need.' So, if you are considering passing on your assets, the first bit of advice is to look after yourself first. 'You can make a more informed decision when you look at your own cash flow position. There can be a sort of a lack of awareness around what your own requirements can be as time goes by,' advises Coady. The last thing you want is to leave yourself short as you age. And bear in mind that money offered as a loan to family may never end up being paid back. 'Loans very often become outright gifts, where there is no prospect of them ever being paid back, so it is important for the giver to be mindful of this and that the expectations on both parties to the loan are clear,' advises Coady. Apart from possible tax savings, another benefit of gifting is that it can help end speculation as to what might become of the family's assets. 'You will often hear, 'There was a collective sigh of relief when I explained what my plans were',' she says. Good communications are key. As Coady notes, parents are often very keen not to repeat the mistakes of the past in their own families. Small gifts Among those for whom it is viable, there can be tax savings when getting ahead of the game. 'When the potential growth in the value of an estate is determined, taking into account annual living expenses, it can make sense to gift assets early,' she says. One of the main tools to avail of when gifting to reduce possible taxes is the small gift exemption. Through this, it is possible to gift anyone €3,000, tax free, each year. As a family's wealth increases, so too does their use of this. 'I would say that there's definitely more awareness of it,' says Coady, noting that while some people proactively avail of the exemption, others say 'Oh, we must get around to doing that.' Of course, the main value in the scheme is its use over a long period of time rather than as a one-off. Consider an annual gift of €6,000 (€3,000 from each parent) to a child from birth until they reach age 18, growing at a rate of 3 per cent annually. 'This could be as much as €140,000 by age 18, meaning that this value has been removed from the estate. It is important to remember that with the small gift exemption, any amount up to €3,000 annually is exempt,' she adds. 'It doesn't have to be €3,000 – it can be what you can afford.' Be careful of how this gift is made however – if not done correctly, it can lead to an unexpected tax bill as happened in the case of a young man a few years ago . So, some type of formal arrangement might be warranted, such as a bare trust. 'It's really around keeping track of what you do, so that the intent of what it is you're doing is clear,' says Coady. Another point to consider if you go down the bare trust route is what the bare trust is invested in and what taxes might apply. Typically, Coady says, investments that are subject to life assurance exit tax or investment undertakings tax (41 per cent rate) are selected because a tax charge is unlikely to arise on these investments until the eight-year anniversary of holding the investment. 'This can also provide a degree of simplification as there is no ongoing need to calculate income tax and CGT [capital gains tax] on the investment income and gains.' What about backdating it if you haven't availed of it thus far? 'No, is the answer to that,' says Coady. But do you want to relinquish control of the funds to children once they become adults at age 18? 'That would be a big concern for parents and grandparents,' says Coady. 'There might be a feeling at age 18 that they mightn't be fully equipped for such a sum.' If control is an issue for you, and you have a sizeable pot to play with, there might be merit to putting a family partnership in place. Family partnership It's not for everyone. Given the costs involved, etc, it's not suitable for payments of €3,000 a year, Coady says. But a family partnership can be a way of gifting while retaining an element of control. It's a significant undertaking that will require legal drafting, possibly registration and annual filings with the Companies Registration Office and ongoing tax filing requirements with the Revenue Commissioners . 'The benefits of such a partnership from an asset protection and tax perspective would need to exceed the costs of establishing it and the ongoing cost of running it,' says Coady, adding: 'Being in a position to run and understand this partnership is also important.' But it can be tax efficient. Consider a family, with two children, that invests €800,000 in a family partnership in 2025. No CAT will arise on the €400,000 payment per person. And neither will the gains be liable to CAT, so if the original investment grows to €1 million by 2031, the children will not be liable to CAT on this €200,000 investment growth. But what if the parents had kept the cash and gifted it when the pot reached €1 million? According to Coady, this would result in a tax bill of about €31,000 per child (based on them using their full €400,000 tax-free allowance). So, the partnership means savings of about €62,000. Another option is whereby the parents lend the partnership €1 million on an interest-free basis. Again, no CAT will arise if the 'free use value' doesn't exceed the small-gifts exemption of €3,000 per child per year. But remember, while tax efficient, a partnership is not tax free. 'There can be a misconception that you will have really efficient tax savings,' says Coady, but, as she points out, while CAT might be avoided, the partnership will incur income tax/CGT in the normal way. Another option is a discretionary trust. These can be established while you're alive, or under a will, and Coady says they can be useful where exemptions from taxes can be obtained, such as for certain beneficiaries, for example a beneficiary with disability or one who is vulnerable. It does require trustees who hold the assets on behalf of the original owner, however, so tread carefully when appointing these. Gifting a house When passing on an asset such as a property, a number of taxes can arise. Unlike upon death, where there is no CGT, a parent gifting a property which is valued at considerably more than they originally paid for it will face a sizeable CGT bill. And on the other side of the transaction, the child might have a CAT liability. Yes, these can be offset against each other; however, 'it doesn't often match up'. 'It's wrong to assume that it could be a wash through,' says Coady. 'You do have to sit down and do the figures.' On the other hand, if you have assets that would sell at a loss, it can make sense to pass them on now, as there will be no CGT. However, there may be CAT/stamp duty. Family loans Not quite the same as a gift, a tax liability can still arises on a family loan if it is given at below market rates. 'The taxable value of this gift is the highest rate of return the person making the loan could achieve if the funds were invested on deposit,' says Coady. However, even if the loan is issued at a lower interest rate, it often won't incur actual tax if the amount involved is below the annual small gift exemption threshold – presuming you have not already availed of that relief. However, new reporting rules effective from January 1st, 2024, mean the beneficiary needs to report the loan to Revenue if it exceeds €335,000. 'Such loans should be documented and remember that a loan that is forgiven or written off will give rise to gift and inheritance tax implications,' says Coady. Given the time value of money, however, the CAT owed on a €50,000 loan given 20 years previously may be significantly less than it would have been if gifted to buy a home today.
