| MAIN PERSONAL TAX CREDITS |
| |
2009 EURO |
2010 EURO |
| Personal Tax Credit |
|
|
| Single Person |
1,830 |
1,830 |
| Married Couple/Single Parent |
3,660 |
3,660 |
| Employee PAYE Credit (1) |
1,830 |
1,830 |
| Widow(er) without dependent child |
2,430 |
2,430 |
One Parent Family (widowed person)
|
1,830 |
1,830 |
| Incapacitated Child |
3,660 |
3,660 |
Widowed Parent Bereaved in 2009
2008
2007
2006
2005
2004 |
-
4,000
3,500
3,000
2,500
2,000 |
4,000
3,500
3,000
2,500
2,000
- |
(1) Not available to proprietary Directors and the self employed |
| |
|
|
| Age Credit |
|
|
| Single/Widowed Person |
325 |
325 |
| Married |
650 |
650 |
| |
|
|
| Blind Persons Credit |
|
|
| Married (both spouses blind) |
3,660 |
3,660 |
| Single or married (one spouse blind) |
1,830 |
1,830 |
| |
|
|
| Other credits |
|
|
Home Carer's Credit (max)
|
900 |
900 |
Incapacitated Child (max)
|
3,660 |
3,660 |
Dependent Relative (max)
|
80 |
80 |
Trade Union Subs (max)
|
70 |
70 |
Service Charges (max)
|
80 |
80 |
| |
|
|
| Mortgage Interest - Tax Relief |
|
|
| 2009: From 1 January 2009, First-time buyers - the rate of mortgage interest relief is increased from 20% to 25% in years 1 and 2 and to 22.5% in years 3, 4 and 5. The relief remains unchanged at 20% for years 6 and 7 of the mortgage. First time buyers relief ends after year 7. Non-first time buyers - the rate of mortgage relief is reduced from 20% to 15%. |
| 2010: Qualifying loans taken out before 1 July 2011 will continue to get relief for 7 years. Transitional measures will be provided for qualifying loans taken out between 1 July 2011 and the end of 2013. |
Those whose entitlement to relief would, in the absence of this change, expire in 2010 or after, will continue to qualify for relief at the applicable rate up until the end of 2017.
The relief will be abolished completely by the end of 2017. |
| |
| Relief available for loan interest on secured and unsecured loans for the tax years 2009 and 2010 |
| Personal Circumstances |
First Time Buyers |
All Others |
| Single Max |
10,000 |
3,000 |
| Married/Widowed |
20,000 |
6,000 |
| |
|
|
| Rent Relief |
|
|
| Under 55 - Single |
400 |
400 |
| Under 55 - Married/Widow(er) |
800 |
800 |
| Over 55 - Single |
800 |
800 |
| Over 55 - Married/Widow(er) |
1,600 |
1,600 |
|
| INCOME TAX RATES |
| Single & Widowed Persons: No
Dependent Children |
2009 EURO |
2010 EURO |
| 20% on first |
36,400 |
36,400 |
| Balance |
41% |
41% |
| |
|
|
| Single & Widowed Persons: Dependent
Children |
|
|
| 20% on first |
40,400 |
40,400 |
| Balance |
41% |
41% |
| |
|
|
| Married Couples: One Income |
|
|
| 20% on first |
45,400 |
45,400 |
| Balance |
41% |
41% |
| |
|
|
| Married Couples: Two Incomes* |
|
|
| 20% on first |
72,800 |
72,800 |
| Balance |
41% |
41% |
| |
|
|
| * Excess over Euro 45,400 non transferable between spouses |
|
|
| |
|
|
| Tax Allowance |
|
|
| Cost of employing carer for incapacitated
individual allowed at marginal rate of tax |
50,000 |
50,000 |
| Rent-a-Room Relief (private residence) |
10,000 |
10,000 |
| Film Investment |
25,400 |
25,400 |
BES Scheme (max relief) |
150,000 |
150,000 |
|
| INCOME LEVY |
| This Income Levy is payable on gross income from all sources before any tax reliefs, capital allowances, losses or pension contributions. |
The 2009 annual rates and thresholds of the income levy are as follows:
- 1.67%: Income up to €75,036 per annum
- 3%: Income between €75,037 and €100,100 per annum
- 3.33%: Income between €100,101 and €174,980 per annum
- 4.67%: Income between €174,981 and €250,120 per annum
- 5%: Income in excess of €250,120 per annum
|
| Rates and thresholds: 1 January 2009 to 30 April 2009 |
| |
2009 EURO |
| Income under €100,100 |
1%* |
| Income €100,100 to €250,120 |
2% |
| Income over €250,120 |
3% |
| |
| Rates and thresholds: From 1 May 2009 and 2010 |
| |
2009 EURO
From 1 May 09 |
2010 EURO |
| Income under €75,036 |
2% |
2% |
| Income €75,037 and €174,980 |
4% |
4% |
| Income over €174,980 |
6% |
6% |
Exempt Categories - the levy does not apply:
- Where an individual’s income for a year does not exceed €15,028 per annum.
- For individuals aged 65 or over where their annual income does not exceed €20,000 per annum
- For Full Medical card holders
- To Social Welfare payments
|
|
| EXEMPTION LIMITS |
| Single/Widowed |
2009 EURO |
2010 EURO |
| Single/ Widowed 65 years of age or over |
20,000 |
20,000 |
| Married 65 years of age or over |
40,000 |
40,000 |
Single/Widowed/Married 65 years of age or over
Additional for 1st and 2nd dependent child |
575 |
575 |
Single/Widowed/Married 65 years of age or over
Additional for each subsequent dependent child |
830 |
830 |
| Marginal Relief Tax Rate |
40%* |
40%* |
| * The Marginal Relief Tax Rate only applies to persons 65 years of age or over. |
|
|