I'm abroad and I've been deliberately ignoring all news from home. We all need a break.
So, I've heard nothing about the budget and now I'm afraid to look.
Could someone break the news to me gently?
(I'm assuming it's bad.)
Wednesday, April 08, 2009
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There was no budget.
Instead, the government delivered a paid month's holidays to everyone who was in the country at the time.
No gentle way of putting it. So here are the facts-
The income levy rates will be doubled-
2% on incomes over €15,028
4% on income in excess of €75,036
6% on income in excess of €174,980
These changes will become permanent in the December budget.
The health levy rates will double to 4% and 5% on incomes over €75,036.
The PRSI ceiling will be increased from €52,000 to €75,036.
DIRT is going up from 23% to 25%
Capital gains tax s being increased from 22% to 25%
Duty on a packet of 20 cigarettes will be increased by 25 cent.
The tax on auto-diesel will be increased by 5 cent per litre.
No increase on alcohol or petrol.
Social Welfare for under-20s will be cut in half to €100 per week. No change for those over 20. But the Christmas Bonus has been eliminated.
Early Childcare Supplement monthly payment to be halved to €41.50 per child with effect from 1st May 2009 and abolished at end-2009.
Mortgage interest relief for private residences will only be available for the first 7 years of the mortgage. Anyone who has been receiving interest relief for the past 7 years will no longer be eligible after 1 May 2009.
Think that's it. Is it according to moneyguideireland.com anyway.
Hope this doesn't poop all over your great time in India! Enjoy it while you can. Looks like holidays are off the books from now on for many of us!
Nothin done to stimulate Jobs
Fags up to €50 a pack
More tax and levvies etc
Ouch.
I mean, seriously.
Fucking ouch.
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