Budget 2012
SUMMARY OF KEY POINTS IN BUDGET 2012
INCOME TAX
The following are details of the Budget Statement of 6 December 2011, as made by the Minister for Finance.
Tax Credits
There are no changes to tax credits.
|
Tax Credit |
2011 € |
2012 € |
|
Single Person |
1,650 |
1,650 |
|
Married or in a Civil Partnership |
3,300 |
3,300 |
|
PAYE Credit |
1,650 |
1,650 |
|
Widowed Person or Surviving |
2,190 |
2,190 |
|
Civil Partner (without dependant children) |
|
|
|
One Parent Family Credit |
1,650 |
1,650 |
|
Incapacitated Child Credit Max |
3,300 |
3,300 |
|
Blind Tax Credit: |
|
|
|
Single Person |
1,650 |
1,650 |
|
Married or in a Civil Partnership |
|
|
|
- One Spouse or Civil Partner |
|
|
|
Blind |
1,650 |
1,650 |
|
Married or in a Civil Partnership |
|
|
|
- Both Spouses or Civil Partners |
|
|
|
Blind |
3,300 |
3,300 |
|
Widowed Parent |
|
|
|
Bereaved in 2011 |
- |
3,600 |
|
2010 |
3,600 |
3,150 |
|
2009 |
3,150 |
2,700 |
|
2008 |
2,700 |
2,250 |
|
2007 |
2,250 |
1,800 |
|
2006 |
1,800 |
- |
|
Age Tax Credit: |
|
|
|
Single or Widowed or Surviving |
|
|
|
Civil Partner |
245 |
245 |
|
Married or in a Civil Partnership |
490 |
490 |
|
Dependent Relative |
70 |
70 |
|
Home Carer |
810 |
810 |
Marginal Rate Reliefs
|
Relief |
2011 |
2012 |
|
(Allowed at the taxpayer’s top rate of tax) |
€ Max |
€ Max |
|
Employing a Carer |
50,000 |
50,000 |
Standard Rated Reliefs (Allowed at 20% rate band)
Service Charges
The measures announced in Budget 2011 are unchanged. The relief is being abolished for tax year 2012 and subsequent years. In 2011, a maximum of €400 tax relief was granted (at the 20% rate) for service charges paid in the year 2010.
|
Relief at |
Allowed in the |
For service charges |
|
Nil |
2012 |
2011 |
|
€400 |
2011 |
2010 |
