Have you decided to take up that offer as an engineer, pilot, musician, writer, executive abroad?
A few pointers when considering your options:
- Where will I be tax resident?
- What are the advantages of becoming non-resident in Ireland?
- When is the best time to consider going?
- How often can I return?
- Can I make it work?
These are just some of the questions I am asked when approached on how to plan efficiently for tax purposes. Planning ahead is key and keeping a diary of days in Ireland and elsewhere can be simply logged on your phone, laptop or iPad!
The basis of planning non-residency is day count in Ireland and abroad, as the amount of days spent in Ireland and elsewhere, determine whether you are resident here or not!
Two tests to become non-resident : be less than 183 days in Ireland in a calendar year or be less than 280 days over two years. The test for 2014 is the days for 2013 and 2014 combined.
If you are less than 30 days in Ireland you are non-resident and if less than 30 days in either year for the 280 day test, then it does not apply!
An example would be if you spend 165 days in Ireland in 2012 and 110 days in 2013, then the aggregate is 275 days, so you would be deemed non-resident for 2013.
Owning property here is not part of the test, but if you let your property while abroad, the net rental income is subject to Irish tax.
It’s all about timing, so why not contact us for more information relating to your unique circumstances?
In general, once you are resident in Ireland you are liable on your world wide income.
Why not give yourself options to consider before making that final decision?