Is it too early to mention the C word? That’s right guys, like it or not, the time has come for you to start thinking about Christmas. It’s an expensive time of year but hopefully, we can help you get more bang for your buck after reading this blog. One iconic quote that really resonates with me about Christmas, is from George Best who said ” I spent a lot of money on booze, birds and fast cars. The rest I just squandered. ”
The Minister made a number of changes to the Universal Social Charge as well as an increase in the standard rate income tax bands effective from January 2018. The Minister also increased all weekly social welfare payments, including an increase in the State Pension of €5 per week with effect from the last week in March 2018.
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Significant cuts to the USC, including a 1.5 point cut in the main rate to 5.5 per cent, are the key change delivering increases in take-home pay.
Budget 2016 tax changes will mean gains for taxpayers ranging typically from €500 a year to €1,000, with some running close to €1,500 a year. This means that, overall, the Budget calculations are reasonably straightforward for most taxpayers.