9 May 2013
Property Tax
Finding a way back to black
The benefits of shopping around, the smart way in the financial services industry
Quintas Quarterly Economic Review
Don’t overlook Paying your yearly contributions towards your future “Old Age Contributory State Pension”
Recent News
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by Tim McCarthy
Dear Reader

Welcome to the latest Quintas newsletter which is a packed edition considering the numerous items which will be of interest to you all presently.  There has been plenty going on here at Quintas and you can get up to speed on all that has been happening by viewing our recent news section. 

One item which the majority of us will be liable for at some level in the coming weeks is the new annual self - assessed Local Property Tax (LPT).  Dave O'Brien gives a brief overview on how to approach your payment of this liability and who to contact with any queries you may have.  Another topic which has been the focus of alot of media attention recently is the Personal Insolvency Bill.  Yvonne Barry outlines details on the new Insolvency Service of Ireland which has been set up to assist people who are insolvent get back to solvency.  This is an item which had to be addressed & legislated for to help those who were struggling as a result of the steep economic downturn. 

I think its fair to say that we are all now more mindful of what we have and in Anne O'Dwyers article she outlines how 'shopping around' for your financial products can really make a difference to your finanical health & in Pat Kearneys article he provides us with details on retirement entitlements & how they can be applied for.  As always, James McCarthy our in-house Investment Analyst has outlined the 'Quintas Quarterly Economic Review' which for this quarter focuses on the topic of bank deposits. 

I hope you enjoy the read and we would welcome any feedback you may have on our newsletter and its content.  To do this please email Sarah O'Neill at soneill@qwm.ie

Thank you
Tim McCarthy
Managing Partner
Property Tax
by Dave O'Brien

As you are aware, an annual self-assessed Local Property Tax (LPT) charged on the market value of all residential properties in the State will come into effect from 1 July 2013. In order to implement this Revenue have issued notifications of LPT estimates and LPT returns to all property owners.

If by now you have not received a LPT notification:

At this point if you have not received a LPT notification either by letter or electronically through Revenue On-Line Service (ROS) you must either go to the Revenue website:  www.Revenue.ie, click 'Login to LPT Online' and then go to the tab 'I have not received a property PIN'. Otherwise, you can contact the LPT Helpline on 1890 200 255.

Read more»
Finding a way back to black
by Yvonne Barry

In April we saw the official launch of the Insolvency Service of Ireland which included the new website www.isi.gov.ie

The ISI will help restore people who are insolvent to solvency in a fair, transparent and equitable way using one of three mechanisms.

Summary of mechanisms:


Type of debt covered



Apply through

Debt Relief Notice (DRN)

Unsecured (and secured in certain cases)

Up to €20,000

3 years

Approved Intermediary (AI)

Debt Settlement Arrangement (DSA)


No limit

5 years (+1)

Personal Insolvency Practitioner (PIP)

Personal Insolvency Arrangement (PIA)

Unsecured and secured

No limit on unsecured

Up to €3m secured (though cap can increase if agreed)

6 years (+1)

Personal Insolvency Practitioner (PIP)


Read more»
The benefits of shopping around, the smart way in the financial services industry
by Anne O'Dwyer

We are very conscious that affordability and the consumer’s ability to pay are at the forefront of people’s minds in the current economic climate. That’s why we here at Quintas Wealth Management urge our clients to constantly review their policies to seek out competitive premiums in this very challenging and uncertain market. We seek to provide the best possible service and range of options to suit all our customers at the most competitive and sustainable price.

But what has shopping got to do with your financial health?

Read more»
Quintas Quarterly Economic Review
by James McCarthy

Recent events in Cyprus have raised concerns over the safety of larger bank deposits in other vulnerable Eurozone countries. When a customer deposits money with a bank they are assuming the bank will lend its money wisely and the economy will be strong enough for bank loans to be repaid. Banks are at risk if loans are not repaid or if customers want to withdraw their deposits faster than the bank can turn its assets into cash. Historically, bank failures and the resulting losses to depositors were a recurring problem. In the United States during 1930, over 1,000 banks failed with losses to depositors. To restore confidence in the banking system the Federal Deposit Insurance Corporation was created which gave depositors insurance which guarantees the safety of their deposits, up to a certain threshold. Similar schemes now exist in most developed countries including Ireland. 

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Don’t overlook Paying your yearly contributions towards your future “Old Age Contributory State Pension”
by Patrick Kearney

While it may be a number of years down the road, you should not overlook the value of paying your yearly contributions to ensure that you qualify for your Old Age Contributory State Pension.

The State Pension (Contributory) is paid to people from the age of 66 who have enough Irish social insurance contributions. It is not means-tested and you can have other income and still get a State Pension (Contributory). This pension is taxable but you are unlikely to pay tax if it is your only income.

To qualify for a State Pension (Contributory) you must be aged 66 or over and have enough Class A, E, F,G, H, N or S social insurance contributions.

You need to:

  1. Have paid social insurance contributions before a certain age
  2. Have a certain number of social insurance contributions paid and
  3. Have a certain average number over the years since you first started to pay

Read more»
Recent News
by Sarah O'Neill

Junior Certificate Revision Course

On Saturday the 9th & 23rd March, Fachtna O'Mahony gave a free Junior Certificate Business Studies revision course to kids of our clients and business contacts.  The revision course went really well with 30 students in attendance over the two days. 

We are likely to run the course again next year so keep an eye out for further details nearer the time if you have a Junior Cert student sitting the exam in 2014.

PMI (Project Manager) Group Cork Event Sponsorship

l-r: Dr Jack Downey, Colum Horgan - PMI, Jim McCarthy - Quintas, Nick Charalambous - QWM, John O’Brien – Blacklab solution, Pat Lucey - PMI

Quintas Wealth Management
was delighted to sponsor the PMI (Project Manager) Cork event which was held at the Vertigo building, Cork County Hall on Thursday 21st March.  Nick Charalambous, Senior Wealth Advisor from QWM and Jim McCarthy, Partner from Quintas spoke at the event.

Daffodil Day

We held a coffee morning on Friday 22nd March for Daffodil Day and raised nearly €400 for the cause.  Thanks to all who contributed.

Special Olympics Annual Coin Collection

l-r:  Lynda McAuliffe - Quintas Wealth Management & Barry O'Driscoll, Quintas Wealth Management

The special olympics annual coin collection day took place on Friday 26th April and a number of Quintas staff members volunteered to assist at the collection points in Blackpool Shopping Centre. 

Wedding Congrats

Congrats to Carol Crowley - now Quinn! on her recent marriage to Colm on Friday 15th March at Fota.

New Appointments

Quintas are delighted to announce the following appointments:

Amy Tobin as Front Office Administrator
Sally Turner as Payroll Administrator
Margo Healy as Payroll Administrator
Grace Keane as Tax Administrator
Fiona O'Connor as Trainee Accountant
Clare Fitzgerald as Trainee Accountant (Graduate Programme)
William Murphy as Trainee Accountant (Graduate Programme)

Press Coverage

To view all the recent press coverage which Quintas has received, please click on read more.

Quintas Blog

To view our recent blog posts, please click on read more.

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