Main Income Tax Credits, Bands and Rates
| 2017 | 2016 | |
|
Personal Tax Credits |
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| Single Person | 1,650 | 1,650 |
| Married Persons | 3,300 | 3,300 |
| Additional for One Parent Family | 1,650 | 1,650 |
| PAYE | 1,650 | 1,650 |
| Earned Income Credit | 950 | 550 |
| Home Carer | 1,100 | 1,000 |
| Exemption Limits 65 Years & over | ||
| Single/ Widowed | 18,000 | 18,000 |
| Married Persons | 36,000 | 36,000 |
| Standard Rate Bands | ||
| Single /Widowed | 33,800 | 33,800 |
| Married Couples – One Income | 42,800 | 42,800 |
| Married Couples – Two Incomes | 65,600 |
65,600 |
| One parent / Widowed parent | 38,800 | 38,800 |
| Income Tax Rates | ||
| Standard Rate | 20% | 20% |
| Higher Rate | 40% | 40% |
|
Universal Social Charge – 2017 |
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| Income up to €12,012 |
0.5% |
|
| On the next €6,656 | 2.5% | |
| On the next €51,376 | 5.0% | |
| On the Balance | 8% | |
| Self Employed – Income over €100,000 | 11.0% | |
| Universal Social Charge – 2016 | ||
| Income up to €12,012 | 1.0% | |
| On the next €6,656 | 3% | |
| On the next €51,376 | 5.5% | |
| On the Balance | 8.0% | |
| Self Employed – Income over €100,000 | 11.0% | |
| Corporation Tax | ||
| Standard Rate | 12.5% | |
| Higher Rate | 25.0% | |
| The standard rate applies to all Trading Income. | ||
| The Higher rate applies to Interest Income, Investment Income and rental Income. | ||
| Value Added Tax (VAT) | ||
| Standard Rate @ 23% |
Applies to all goods & services that are not Exempt or liable at Zero or Reduced Rates. |
|
| Reduced Rate @ Currently 13.5% |
Applies to certain fuels, buildings, construction services and certain newspapers, etc. |
|
| Lower Rate 9% |
Cooked Meals, Hotel accomodation, Hairdressing, etc Applies to certain food items, children’s clothing, medicines and goods which are exported
|
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| VAT Exempt Zero Rated |
Applies to Financial, Medical and Insurance services, admission to sporting events and funeral undertaking. |
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For more details on VAT Categories, Rates, etc, visit www.revenue.ie/en/tax/vat/index.html |
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Capital Gains Tax (CGT) |
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Rates of CGT |
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| For Sales made after 5 December 2012For Sales made since 6 December 2011For Sales made since 7 April 2009 25% | 33% 30% | |
| For Sales made between 14 October 2008 and 7 April 2009 | 22% | |
| For Sales made prior to 14 October 2008 | 20% | |
| Payment Dates for CGT | ||
|
For sales made since 2009 |
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| Sales made between 1 January and 30 November – | 14 December of current year | |
| Sales made between 1 December and 31 December – | 31 October of following year | |
| For sales made in 2008 and prior | ||
| Sales made between 1 January and 30 September – | 31 October of current year | |
|
Sales made between 1 October and 31 December – |
31 January of following year | |
| Capital Acquisitions Tax (CAT) | ||
|
Rates of CAT From 5th December 2012 33% |
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| For Gifts/Inheritances received between 7 April 2009 and 6 December 2011 | 25% | |
| For Gifts/Inheritances received between 14 October 2008 and 7 April 2009 | 22% | |
| For Gifts/Inheritances received prior to 14 October 2008 | 20% | |
| Thresholds for CAT (effective from 11/10/2016) | ||
| Group A (Parent to Child) |
€310,000 |
|
| Group B (Other Relatives generally) | € 32,150 | |
| Group C (All other persons) | € 16,250 | |
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For more detailed information regarding Threshold categories see Revenue Website or contact our office. |
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