Dáil debates

Tuesday, 7 December 2010

FINANCIAL RESOLUTION No. 14: INCOME LEVY

 

Financial Resolution No. 10 reduces the level of the standard bands. The single standard band is reduced from €36,400 to €32,800. Financial Resolution No. 11 reduces the level of income tax credits by approximately 10%. Personal PAYE credits will be reduced from €1,830 to €1,650. Financial Resolution No. 12 reduces the threshold for the exemption limit for persons aged 65 or older to €18,000 for a single or widowed person and €36,000 for a married couple where either spouse is aged over 65 years. Financial Resolution No. 13 gives statutory effect of the budgetary announcement that a new charge called the universal social charge will be introduced on 1 January 2011.

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