Tax Facts 2019

Welcome to the latest edition of Tax Facts which has been updated for amendments brought about by Finance Act 2018.

This Tax Facts by AG Associates is a practical and easy-to follow guide to the Irish tax system.

It provides a summary of Irish tax rates as well as an outline of the main areas of Irish taxation. If you have any queries or concerns regarding taxation or accountancy matters, please feel free to contact the office.

Overall, middle-income earners and two-income families were the main, albeit modest, beneficiaries of Budget 2019 with a combination of USC cuts and a widening of the top income tax. Increased numbers will qualify for schemes and payments such as the affordable childcare schemes, which
will make a significant increase to some families.

In his second Budget, Minister for Finance Paschal Donohoe also announced a raft of measures to tackle the housing crisis, including €1.25 billion allocated to build 10,000 social homes in 2019. He also introduced a Rainy Day Fund of €1.5 billion to increase the State’s resilience to larger economic shocks.

The biggest revenue-raising measure and the one that drew the ire of the tourism and hospitality sector was an increase in the VAT rate from 9% to 13.5%, which is expected to net the exchequer nearly €466 million a year.

He also increased the earned income credit for the self – employed by €200 to €1,350, still falling short of PAYE parity of €1,650.

This publication details information on the following areas affected by taxation:

• Corporation Tax
• Income Tax Rates
• Retirement & Pensions
• Investment Income
• Local Property Tax
• Self-Assessment For Individuals
• Motor Expenses
• Benefit In Kind
• Employee Share Schemes
• Capital Acquisitions Tax
• Capital Gains Tax
• Capital Allowances
• Taxation Of Dividends
• Value Added Tax
• Pay Related Social
• Insurance / Universal Social Charge
• Farmers Taxation
• Marital Breakdown
• Civil Partnerships

Download the Tax Facts 2019 by AG Associates by clicking on the image below: