|
INCOME
TAX RATES AND BANDS FOR 2008
| |
Euro € |
Rate |
| Single/Widowed |
1 - 35,400 |
20% |
| Balance |
41% |
| Married One Income |
1 - 44,400 |
20% |
| Balance |
41% |
| Married Two Incomes * |
1 - 70,800 |
20% |
| Balance |
41% |
| One Parent Family |
1 - 39,400 |
20% |
| Balance |
41% |
| *
maximum transferable between spouses €44,400 |
INCOME
TAX CREDITS FOR 2008
|
Personal
Credit |
Tax Credit
(Euro €) |
|
Single Person |
1,830 |
|
Married Couple |
3,660 |
|
One Parent (additional) |
1,830 |
|
Widowed Person (in year
of bereavement) |
3,660 |
|
Widowed Person (subsequent years) |
2,430 |
|
Child
Credit |
|
Incapacitated Child
(max) |
3,660 |
|
Dependent Relative
(max) |
80 |
|
Age Credit |
|
Single / Widowed |
325 |
|
Married |
650 |
|
Other Credits |
|
Blind person |
1,830 |
|
Both spouses blind |
3,660 |
|
Home carer (max) |
900 |
|
Trade Union Subs (Max) |
70 |
|
Employee Credit |
1,830 |
|
Employment of Carer for
Incapacitated
Person (max) |
50,000
(at marginal rate) |
Widowed
Parent Tax Credit
|
Year Widowed |
Credit |
| Year 1 |
4,000 |
| Year 2 |
3,500 |
| Year 3 |
3,000 |
| Year 4 |
2,500 |
| Year 5 |
2,000 |
Mortgage
Interest
| |
|
Single |
Married/Widowed |
| First Time Buyer
* |
Ceiling |
10,000 |
20,000 |
| Tax Credit |
2,000 |
4,000 |
| Non-First time buyer or first loan
taken out prior to 5-4-2000 |
Ceiling |
3,000 |
6,000 |
| Tax Credit |
600 |
1,200 |
*
A first time buyer is a person who borrowed money for the first time in
order to acquire/improve their residence. This applies to first seven
tax years only.
Tax relief for
mortgage interest is given automatically and does not have to
be claimed.
Income
Tax Exemption Limits
| |
Under 65 |
65 Years + |
| Single / Widowed |
5,210 |
20,000 |
| Married |
10,420 |
40,000 |
**
These exemption
limits are increased by €575 for each of the first two
dependent
children and by €830 for any other children.
RENT RELIEF
| |
Under 55 |
55 Years + |
| Single |
400 |
800 |
| Widowed |
800 |
1,600 |
| Married |
800 |
1,600 |
Figures
correct at time of publishing. No responsibility is accepted
for any errors.
Please contact our office for further clarification
on these figures.
For more
information see www.revenue.ie
|
