Dáil debates

Wednesday, 6 February 2008

Finance Bill 2008: Second Stage (Resumed)

 

5:00 pm

Photo of Chris AndrewsChris Andrews (Dublin South East, Fianna Fail)

One of the ways in which the Bill protects the less well-off in society is by creating a fairer tax system. The Social Welfare Bill made significant improvements to social welfare payments, including pensions and carer's allowance, among other measures. The Finance Bill aims to reward those at work. It does so by giving increases in personal tax credits and tax bands to ensure that low income earners are kept out of the standard rate band and average earners are kept out of the higher rate band. Tax credits have been increased for the elderly, lone parents, widowed persons, including widowed parents, and those with a disability or those who care for a person with a disability.

Those who wish to get their first step on the property ladder should now find it considerably easier due to the changes, which include further increases in the ceilings up to which first-time buyers can claim mortgage interest relief and substantial reform of the stamp duty regime for residential property.

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