PERSONAL TAX
Income Tax
No changes in rates
Universal Social Charge
Over 70 with income in excess of €60,000 reduced charge discontinued from 01/01/2013
Mortgage Interest Relief
Abolished from 31/12/2012
DIRT
Increased from 30% to 33% from 01/01/2013
Maternity Benefit
Taxable from 01/07/2013 – not liable to USC
Business Tax
Tax Exemption for Start Up Companies
3 year tax exemption for new start-ups
Unused reliefs can be carried forward
Close Company Surcharge
Threshold increased from €635 to €2,000
Capital Taxes
Capital Gains Tax (CGT)
Increased from 30% to 33% for disposals after 05/12/2012
Capital Acquisitions Tax (CAT)
Increased from 30% to 33% for inheritances/gifts received after 05/12/2012
|
Group |
After 05/12/2012 |
Pre 05/12/2012 |
|
A – Parent to child |
€225,000 |
€250,000 |
|
B – Between related parties |
€29,887 |
€33,208 |
|
C – Others |
€14,944 |
€16,604 |
Local Property Tax (LPT
Commences 01/07/2013 – half year charge 2013
Self-assessed and administered by Revenue Commissioners
Rates
0.18% of market value up to €1m
0.25% of market value over €1m
Banks of €50,000 will apply with tax computed at mid-point of band
Household charge ceases 01/01/2013
NPPR ceases 01/01/2014
Tax Credits for 2013
|
|
2013 |
2012 |
|
|
€ |
€ |
|
PERSONAL |
|
|
|
Single |
1,650 |
1,650 |
|
Marries |
3,300 |
3,300 |
|
Widowed Person |
2,190 |
2,190 |
|
Lone Parent |
3,300 |
3,300 |
|
|
|
|
|
PAYE |
1,650 |
1,650 |
|
|
|
|
|
AGED CREDIT |
|
|
|
Single |
245 |
245 |
|
Married |
490 |
490 |
|
|
|
|
|
INCOME TAX RATES |
|
|
|
Single person |
20% up to €32,800 |
20% up to €32,800 |
|
|
41% balance |
41% balance |
|
|
|
|
|
Married persons (2 incomes) |
20% up to €65,600 |
20% up to €65,600 |
|
|
41% balance |
41% balance |
|
|
|
|
|
Married persons (1 income) |
20% up to €41,800 |
20% up to €41,800 |
|
|
41% balance |
41% balance |
|
|
|
|
|
UNIVERSAL SOCIAL CHARGE (USC) |
|
|
|
Total earnings > €10,036 |
0.0% |
0.0% |
|
Earnings €0 to €10,036 |
2.0% |
2.0% |
|
Earnings €10,037 to €16,016 |
4.0% |
4.0% |
|
Earnings in excess of €16,016 |
7.0% |
7.0% |
|
|
|
|
|
PRSI |
|
|
|
Employee |
4.0% |
4.0% |
|
First €127 exempt abolished from 01/01/2013 |
|
|
|
Employer |
|
|
|
PRSI on earnings up to €356 p.w. |
4.25% |
4.25% |
|
PRSI on earnings over €356 p.w. |
10.05% |
10.05% |
|
Training Levy |
0.70% |
0.70% |
|
Self employed |
4.00% |
4.00% |
|
Minimum Contribution |
€500 |
€253 |
While every effort has been made to ensure that the information listed is accurate, it is only intended as a guide and should not be used as a basis for decisions. We are unable to accept liability for any errors or omissions which may arise