| BUDGET
KEY POINTS |
 |
All minimum wage earners to be removed from the
tax net |
|
No changes in tax rates |
|
No increase in Excise Duties on alcohol, petrol
diesel or tobacco |
|
The standard rate band has been increased by €2,600
for all earners |
|
Increase in personal tax credit by €50 (single)
and €100(married) to €1,630 and €3,260
respectively |
|
Employee tax credit increased by €220 to
€1,490 |
|
Childminders exempt from PAYE, PRSI and levies
on first €10,000 of income |
|
New early childcare supplement of €1,000
per year for each child under 6 to be paid quarterly.
Payments begin in mid-2006 |
|
Unpaid maternity leave extended by 4 weeks in
2006 and another 4 weeks in 2007. Total unpaid maternity
leave to rise to 14 weeks by 2007 |
|
Paid maternity leave extended by 4 weeks to 22
weeks in 2006 and to 26 weeks in 2007 |
|
Stud fee tax reliefs will end in 2008 |
|
Amount of income claimed in tax reliefs for high
earners to be halved |
|
Artists' relief capped at €250,000 |
|
Limit of tax relief on lump sum payments into
individual pension funds to be capped at €1.25
million or €5 million if total fund exceeds
€5 million |
|
Rent allowance increased to €1,650 for single
person, €3,300 for couples |
|
VAT registration threshold raised to €27,500
for service firms, €55,000 for manufacturers
|
|
First €100 of non-contributory pensioners'
income exempt from means testing |
|
Old age pension raised by €14 to €193.30
per week |
|
Social Welfare payments will rise by €17
per week |
|
Bank levy not renewed |
