(1) Not
available to proprietory Directors and the self
employed
Age Credit
Single/Widowed Person
325
325
Married
650
650
Blind Persons Credit
Married (both spouses
blind)
3,660
3,660
Single or married (one
spouse blind)
1,830
1,830
Other credits
Home Carer's Credit (max)
900
900
Incapacitated Child
(max)
3,660
3,660
Dependent Relative (max)
80
80
Trade Union Subs (max)
70
70
Service Charges (max)
80
80
Mortgage Interest - Tax Relief
2009: From 1 January 2009, First-time buyers - the rate of mortgage interest relief is increased from 20% to 25% in years 1 and 2 and to 22.5% in years 3, 4 and 5. The relief remains unchanged at 20% for years 6 and 7 of the mortgage. First time buyers relief ends after year 7.
Non-first time buyers - the rate of mortgage relief is reduced from 20% to 15%.
2010: Qualifying loans taken out before 1 July 2011 will continue to get relief for 7 years. Transitional measures will be provided for qualifying loans taken out between 1 July 2011 and the end of 2013.
Those whose entitlement to relief would, in the absence of this change, expire in 2010 or after, will continue to qualify for relief at the applicable rate up until the end of 2017.
The relief will be abolished completely by the end of 2017.
Relief available for loan interest on secured and unsecured loans for the tax years 2009 and 2010
Personal Circumstances
First Time Buyers
All Others
Single Max
10,000
3,000
Married/Widowed
20,000
6,000
Rent Relief
Under 55 - Single
400
400
Under 55 - Married/Widow(er)
800
800
Over 55 - Single
800
800
Over 55 - Married/Widow(er)
1,600
1,600
INCOME
TAX RATES
Single & Widowed Persons: No Dependent Children
2009 EURO
2010 EURO
20% on first
36,400
36,400
Balance
41%
41%
Single & Widowed
Persons: Dependent Children
20% on first
40,400
40,400
Balance
41%
41%
Married Couples:
One Income
20% on first
45,400
45,400
Balance
41%
41%
Married
Couples: Two Incomes*
20% on first
72,800
72,800
Balance
41%
41%
*
Excess over Euro 45,400 non transferable between
spouses
Tax Allowance
Cost of employing carer
for incapacitated individual allowed at marginal
rate of tax
50,000
50,000
Rent-a-Room Relief (private residence)
10,000
10,000
Film Investment
25,400
25,400
BES Scheme (max relief)
150,000
150,000
INCOME LEVY
This Income Levy is payable on gross income from all sources before any tax reliefs, capital allowances, losses or pension contributions.
The 2009 annual rates and thresholds of the income levy are as follows:
1.67%: Income up to €75,036 per annum
3%: Income between €75,037 and €100,100 per annum
3.33%: Income between €100,101 and €174,980 per annum
4.67%: Income between €174,981 and €250,120 per annum
5%: Income in excess of €250,120 per annum
Rates and thresholds: 1 January 2009 to 30 April 2009
2009 EURO
Income up to €100,100
1%
Income €100,101 to €250,120
2%
Income over €250,120
3%
Rates and thresholds: From 1 May 2009 and 2010
2009 EURO
From 1 May 09
2010 EURO
Income up to €75,036
2%
2%
Income €75,037 to €174,980
4%
4%
Income over €174,980
6%
6%
Exempt Categories - the levy does not apply:
Where an individual’s income for a year does not exceed €15,028 per annum.
For individuals aged 65 or over where their annual income does not exceed €20,000 per annum
For Full Medical card holders
To Social Welfare payments
EXEMPTION
LIMITS
2009 EURO
2010 EURO
Single/ Widowed 65 years of age or over
20,000
20,000
Married 65 years of age or over
40,000
40,000
Single/Widowed/Married 65 years of age or over
Additional for 1st and 2nd dependent child
575
575
Single/Widowed/Married 65 years of age or over
Additional for each subsequent dependent child
830
830
Marginal Relief Tax Rate
40%*
40%*
* The Marginal Relief Tax Rate only applies to persons 65 years of age or over.
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