INCOME TAX ROI
| MAIN PERSONAL TAX CREDITS |
| |
2006 € |
2007 € |
| Personal Tax Credit |
|
|
| Single Person |
1,630 |
1,760 |
| Married Couple/Single Parent |
3,260 |
3,520 |
| Widow(er) without dependent child |
2,130
|
2,310 |
| One Parent Family (widowed person) |
1,630 |
1,760 |
| One Parent Family (other person) |
1,630 |
1,760 |
| Employee PAYE Credit (1) |
1,490 |
1,760 |
| Incapacitated Child |
1,500 |
3,000 |
Widowed Parent Bereaved in 2006
2005
2004
2003
2002
2001 |
-
3,100
2,600
2,100
1,600
1,100 |
3,750
3,250
2,750
2,250
1,750
- |
| (1) Not available to proprietory Directors and the self employed |
| |
|
|
| Age Credit |
|
|
| Single/Widowed Person |
250 |
275 |
| Married |
500 |
550 |
| |
|
|
| Blind Persons Credit |
|
|
| Married (both spouses blind) |
3,000 |
3,520 |
| Single or married (one spouse blind) |
1,500 |
1,760 |
| |
|
|
| Other credits |
|
|
| Home Carer's Credit (max) |
770 |
770 |
| Incapacitated Child (max) |
1,000 |
3,000 |
| Dependent Relative (max) |
80 |
80 |
| Trade Union Subs (max) |
60 |
60 |
Service Charges (max)
|
39 |
80 |
| |
|
|
Home Loans - Standard Rate
|
|
|
| *First-Time Buyer |
|
|
Single Max
|
800 |
1,600 |
| Married Max |
1,600 |
3,200 |
| Widow(er) Max |
1,600 |
3,200 |
| * Now available for 7 years, previously 5 years |
|
|
| |
|
|
Non-First Time Buyer
|
|
|
Single Max
|
508 |
600 |
Married Max
|
1,016 |
1,200 |
| Widow(er) Max |
1,016 |
1,200 |
| |
|
|
Rent Relief
|
|
|
| Under 55 - Single |
330 |
360 |
| Under 55 - Married/Widow(er) |
660 |
720 |
| Over 55 - Single |
660 |
720 |
| Over 55 - Married/Widow(er) |
1,320 |
1,440 |
| INCOME TAX RATES |
| Single & Widowed Persons: No Dependent Children |
2006 € |
2007 € |
20% on first
|
32,000 |
34,000 |
| Balance |
42% |
41% |
| |
|
|
Single & Widowed Persons: Dependent Children
|
|
|
20% on first
|
36,000 |
38,000 |
| Balance |
42% |
41% |
| |
|
|
Married Couples: One Income
|
|
|
20% on first
|
41,000 |
43,000 |
| Balance |
42% |
41% |
| |
|
|
Married Couples: Two Incomes*
|
|
|
| 20% on first |
64,000 |
68,000 |
| Balance |
42% |
41% |
| |
|
|
| * Excess over Euro 43,000 non transferable between spouses |
|
|
| |
|
|
| Tax Allowance |
|
|
| Cost of employing carer for incapacitated individual allowed at marginal rate of tax |
50,000 |
50,000 |
| EXEMPTION LIMITS |
| Single/Widowed |
2006 € |
2007 € |
Under 65 years of age
|
5,210 |
5,210 |
| 65 or over |
17,000 |
19,000 |
| |
|
|
Married
|
|
|
Under 65 years of age
|
10,420 |
10,420 |
| 65 or over |
34,000 |
38,000 |
| Marginal Relief will continue to apply at 40% where income does not greatly exceed the relevant exemption limit |
| The above exemption limits are increased by €575 for each of the first two dependent children and by € 830 for the third and subsequent children. |
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