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Tag Archives: Budget 2022

Budget 2022: what you need to know

THIS year’s Budget has been labelled ‘a giveaway’, though it appears most of the concessions by the government are modest ones. If not that, then they are so thinly spread as to make little difference to anyone. In the area of personal taxation, in an income tax package worth close to €520 million, the standard rate band will increase by €1,500 and will also see the increase of each of the personal tax credits, employee tax credits and earned income credits by €50. Meanwhile, a full-time worker on the minimum wage will remain outside the top rates of the Universal Social Charge and the ceiling of the second USC rate band will be increased from €20,687 to €21,295. Workers will be able to earn €36,800 before hitting the top rate of income tax, up from €35,300. Also, the income tax credits to rise by €50.#Budget2022. — Charlie Weston (@CWeston_Indo) October 12, 2021 The exemption from the top rate of USC …

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