Recent posts re. +300% Renta

Good morning, any further news on reason for 300% increase ?
Also, what exchange rate being used ? This seems to vary from person to person which confuses me.

T.I.A.

It can vary because one person can get a pension rise or whatever and it takes them to the next tax bracket but someone elses rise will not exceed the limit and they will stay in the same bracket as they were

Hopefully everyone gets an increase every year and inevitably will, at some stage, fall into higher band. This couldn't have generated 300% increase especially as all increase wouldn't be subject to higher band.

Once again saying 300% is virtually meaningless without qualifying it with numbers, €50 last year against €150 this is a rise of 300%!

Re exchange rates, as I always do I calculated actual income received using the rate on the day and then compared that with the average and it made a difference of a handful of Euros with the spot rates being marginally in my favour so that's what I used so you can safely discount that as being a significant factor for this year's return.

Cheers Darro, I understood that an Official Rate was issued for tax purposes, which I believe was 1.1907 and have used that for me estimate. I pay to have it done formally and wait to hear what they use. I agree with your comments re 300% just curious.

The exchange rate that is always used is what it was on 1st Jan. This year it is 1.19€

That's why it can pay to calculate on the basis of the date money was received, that is also the only 100% true and accurate figure so cannot be disputed.

Darro wrote::text-goodpost:

Once again saying 300% is virtually meaningless without qualifying it with numbers, €50 last year against €150 this is a rise of 300%!