Budget 2016 is the first time where a significant number of Irish taxpayers will benefit from the economic recovery the Country has witnessed over the last 12-18 months.
The Key measures include:
- A reduction in the rates of USC for low and middle income earners
- An increase in the Class A, CAT threshold from €225,000 to €280,000
- A new tax credit for the self employed valued at €550 to increase over the next 2 years
- A reduction in the rate of CGT to 20% on taxable gains of up to €1 million earned by qualifying entrepreneurs
Please see a link above to our newsletter which details Budget 2016 provisions. In addition, it shows the 2015 and 2016 rates and tax credits including a comparative summary of the USC rates.