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Thomas McGibney & Company | ||
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BUDGET 2003Income
Tax Rates & Bands 2003 The
tax rates are unchanged at 20% and 42%. The standard rate tax bands are unchanged. The
Rates and Bands for 2003 are as follows:
Tax Credits Personal Tax credits will remain unchanged The PAYE tax credit will
go up by 140 to 800 per annum.
The annual
income tax exemption limits for those aged 65+ goes up from
13,000 single and 26,000 married to 15,000 single and
30,000 married.
The mortgage tax
relief available to first-time buyers will go up from 3,175 for
single individuals and 6,350 for married couples to 4,000 and
8,000, respectively. This relief is now available for 7 years,
increased from the current period of 5 years
An annual cap is
to be introduced on employee pension contributions. This already
applies to the
self-employed.
PRSI and Health
Levy will be charged on benefits-in-kind (e.g. company cars &
other perks) |
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© 2010 Thomas McGibney & Company, Chartered Accountants, Main Street, Virginia, Co. Cavan, Ireland All Rights Reserved Privacy Policy & Copyright Disclaimer
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to carry on audit work and authorised to carry on investment business by the
