Please note that our EWSS upgrade is now available. This includes a July/August Sweepback utility. It is important that you ensure you have registered for EWSS using Manage Tax Registrations (under Other Services) in the main ROS screen. The qualifying criteria for claiming EWSS can be found here.


Oct 2013

16

Budget 2014 - Overview (due to take effect from 1st Jan 2014 unless otherwise stated)

PAYE, USC & PRSI

  • No change
  • The reduced rate of 4.25% employer PRSI is due to revert back to 8.5% in January 2014

Maternity Benefit

  • Maternity & Adoptive Benefit standardised at  €230 for new claimants from January 2014, existing claimants will not be affected

Illness Benefit

  • Waiting days for entitlement to Illness Benefit increased from 3 days to 6 days

Medical Insurance

  • Tax relief on medical insurance premiums restricted to  €1,000 per adult insured and  €500 per child insured from 16th October 2013

Pension Contributions

  • Tax relief on pension contributions limited to pensions of €60,000 or less

Top Slicing Relief

  • Top slicing relief on ex-gratia termination & severance payments abolished

VAT

  •  Reduced rate of 9% for the tourism sector to be retained
  • All other VAT rates remain untouched
  • VAT on cash receipts basis threshold increased to €2m with effect from 1st  May 2014

GP Care

  • Free GP care for all children under 5

Bereavement Grant

  • One-off payment of €850 to the families of the deceased discontinued

DIRT Tax

  • Increased from 33% to 41%

Prescription Charges

  • Prescription charge increased from €1.50 per item to  €2.50 per item

Start Your Own Business Scheme

  • 2 year income tax exemption for long term unemployed who start their own business subject to terms and conditions

SME’s Training & Mentoring Programme

  • Subsidised financial training programme for small businesses consisting of 2 days dedicated offsite training

Corporation Tax

  • Corporation Tax will remain at 12.5%

Medical Cards for the over 70s

  • Income threshold for medical cards for over 70s lowered to  €900 per week for a couple and €500 per week for a single person, medical card in these cases would be replaced with GP only medical card

Telephone Allowance

  • Pensioners telephone allowance worth €114 a year is being abolished

Air Travel Tax

  • Reduced to 0% from 1st April

Home Renovation Incentive

  • An income tax credit to homeowners carrying out work on their home in the next 2 years, the credit will be calculated at 13.5% of the spending cost up to a maximum €4,050

Jobseekers Allowance

  • Claimants aged 18-24 will receive a reduced rate of  €100 per week, claimants turning 25 from January will receive €144

Cigarettes

  • Cigarette packets will be taxed 10 cent more from midnight 15th October 2013

Wine

  •  A 70cl bottle of wine will be taxed 50 cent more from midnight 15th October 2013

Beer, Cider & Spirits

  • Will rise in price by 10 cent from midnight 15th October 2013

Motoring

  • No increase in excise duty on petrol or diesel

No increase in motor tax

Posted byAudrey MooneyinPayroll Software