Budget 2014 – Tax Guide

Main Tax Credits & Allowances 2014 2013 € € Personal Tax Credits Single Person 1,650 1,650 Married or in a Civil Partnership 3,300 3,300 Single Person Child Carer 1,650 - One-Parent Family - 1,650 Widowed Person or Surviving Civil Partner - In year of bereavement 3,300 3,300 - Without dependent children 2,190 2,190 - With [...]

By |2013-10-20T13:44:52+01:00October 20th, 2013|Budget, Recent, Revenue|

Budget 2014 – The Highlights

Business Tax  Corporation Tax Rate It is welcoming to hear that the Government has once again re-affirmed its commitment to the retention of Ireland’s 12.5% Corporation Tax rate. In light of constant media attention surrounding the matter, it is encouraging that the Government remains determined to retain the 12.5% tax rate, as this is [...]

By |2013-10-20T12:10:57+01:00October 20th, 2013|Budget, Recent, Revenue|

Budget 2012 – Highlights – Day Two

BUDGET 2012 DAY TWO Income tax: No increase VAT: Raised by 2% to 23% Universal Social Charge: Exemption raised to €10,000 - this affects 330,000 people Carbon Tax: Increased from €15 per tonne to €20 per tonne This means: 1.4c increase on Petrol 1.6c increase on Diesel €17.32 increase on Fuel Oil (to rise in [...]

By |2011-12-06T18:52:11+00:00December 6th, 2011|Budget, Recent, Revenue|

Budget 2012 – Highlights – Day One

BUDGET 2012 DAY ONE Main points €3.8bn fiscal adjustment needed in 2012 €2.2bn of adjustment from spending €1.4bn in day-to-day spending cuts €20m earmarked for new Labour Market Activation Fund Public service staff down by 6,000 Public service pay bill to fall by €400m in 2012 Social Weekly social-welfare payments unchanged Changes to the one-parent [...]

By |2011-12-03T17:48:21+00:00December 3rd, 2011|Budget, Recent, Revenue|

Finance (No.2) Act 2011

The Finance (No.2) Act 2011 was signed into law on 22 June and provides the legislation for the introduction of the levy on pension schemes announced in the Jobs Initiative. Key Points: Government Pension Levy Levy of 0.6% on the market value of assets under management, to raise €470 million per year. The legislation specifically [...]

By |2011-06-27T18:40:53+01:00June 27th, 2011|Finace Act, Finance (No.2) Act 2011, Recent, Revenue|

Budget 2010

Budget 2010 Highlights *Main Tax Credits *Mortgage Interest Relief *Income Tax Bands *Benefit in Kind *Social Insurance *Corporation Tax Rates & Payments *Research & Development Tax Credit *Intellectual Property Capital Allowances *Other Capital Allowances *Pension Contribution Limits *Capital Gains Tax *Gift/Inheritance Tax *Value Added Tax *Stamp Duty *Dates to Remember Return to Top Main Tax [...]

By |2011-06-12T08:28:02+01:00June 12th, 2011|Budget, Revenue|

Budget 2011

The below is a brief synopsis of the details of the Brian Lenihans 2011 Budget. For a more comprehensive look at the Budget Click Here.   No change to 12.5% corporation tax rate. Accelerated capital allowances scheme for energy efficient equipment timeframe to be extended. Replacement of Income Levy and Health Levy with a single [...]

By |2011-05-23T18:28:48+01:00May 23rd, 2011|Budget, Recent, Revenue|

Pensions Levy

On Tuesday 10th May 2011, the Minister for Finance announced the introduction of a new tax. It is called a Pension Levy and will be applied on Private Pension Scheme assets. It was included in the government’s announcement on a Jobs Initiative.The Levy applies to pension scheme assets in the Private Sector only. It is [...]

By |2011-05-22T18:19:51+01:00May 22nd, 2011|Recent, Revenue|

Jobs Inititative

0.6% levy on private pension funds: Intended to raise €470m a year, payable in two tranches. It will operate for four years, and will raise €1.88bn overall. It will not apply to non-residents or to funds already in wind-up before 10 May, 2011.Air travel tax to be reduced to zero: This measure is taken provided [...]

By |2011-05-22T18:17:29+01:00May 22nd, 2011|Revenue|