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MAIN PERSONAL TAX CREDITS
20122013
Personal Tax Credit
Single Person1,6501,650
Married or in Civil Partnership3,3003,300
PAYE Credit1,6501,650
Widowed Person or Surviving civil Partner (without dependent children)2,1902,190
One Parent Family1,6501,650
Incapacitated Child Credit Max3,3003,300
Blind Tax Credit:
Single Person
Maried or in Civil Partnership – One Spouse or Civil Partner Blind
Maried or in Civil Partnership – Both Spouses or Civil Partners Blind		1,650
1,6503,300		1,650
1,6503,300
Widowed Parent BereavedBereaved in 2012201120102009

2008

2007

–

3,600

3,150

2,700

2,250

1,800

3,600

3,150

2,700

2,250

1,800

–

Age Credit
Single or Widowed or Surviving Civil Person245245
Married or in a Civil Partnership490490
Other credits
Home Carer’s Credit (max)810810
Dependent Relative (max)7070
INCOME TAX RATES
2012 EURO2013 EURO
Single or Widowedor Surviving civil Partner, without
Dependant Children
20% on first32,80032,800
Balance41%41%
Single or Widowed or Surviving Civil Partner, qualifying for One Parent Family Tax Credit
20% on first36,80036,800
Balance41%41%
Married or in a Civil Partnership, one Spouse or Civil Partner with Income
20% on first41,80041,800
Balance41%41%
Married or in a Civil Partnership, both Spouses or Civil Partners with Income
20% on first41,800 with increase of 23,800 max41,800 with increase of 23,800 max
Balance41%41%
Tax Allowance
Cost of employing carer for incapacitated
individual allowed at marginal rate of tax		50,00050,000
Rent-a-Room Relief (private residence)10,00010,000

 

UNIVERSAL SOCIAL CHARGE (USC)
The USC is a tax payable on gross income, including notional pay, after any relief for certain capital allowances, but before pension contributions. The USC is effective from 1 January 2011 and and will be on a cumulative basis from 1 January 2012.
USC Thresholds (Aged Under 70years)
20122013
Income up to €10,0362%2%
Income €10,036.01 to €16,0164%4%
Income above €16,0167%7%
USC Thresholds (Aged 70years or over)2012
Individuals aged 70 years or over.Individuals who hold a full medical card (regardless of age)		2013
Individuals aged 70 years or over whose aggregate income for the year is €60,000 or less.Individuals (aged under 70) who hold a full medical card whose aggregate income for the year is €60,000 or less.
Income up to €10,0362%2%
Income above €10,0364%4%
Exempt Categories

  • Where an individual’s total income for a year does not exceed €10,035 in 2012and 2013
  • All Dept of Social Protection payments
  • Income already subjected to DIRT

“Aggregate” income for USC purposes does not include payments from the Dept of Social Protection

A”GP only” card is not considered a full medical card

 

MORTAGE INTEREST – TAX RELIEF
Interest paid on qualifying home loans taken out on or after 1 January 2004 and on or before 31 December 2012 will (subject to the exception below) qualify for tax relief up to the end of 2017 at the following general rates and thresholds.
First-Time Buyers – The tax relief on interest paid on qualifying home loans is 25% for years 1 and 2; 22.5% for years 3, 4 & 5 and 20% for years 6 and 7. The upper thresholds in respect of the amount of interest paid qualifying for tax relief are €20,000 for individuals who are married, in a civil partnership or widowed and €10,000 for individuals who are unmarried and not in a civil partnership. After year 7, the rates and thresholds for relief are as for non-first time buyers.
Non-first time buyers – The tax relief on interest paid on qualifying home loans is 15%. The upper thresholds in respect of the amount of interest paid qualifying for tax relief are €6,000 for individuals who are married, in a civil partnership or widowed and €3,000 for individuals who are unmarried and not in a civil partnership.
Exception – However, notwithstanding the rates of tax relief mentioned above, for individuals who purchased their first principal private residence on or after 1 January 2004 and on or before 31 December 2008, the rate of tax relief on the interest paid on the loan to purchase that property will, for the tax years 2012 to 2017, be 30%.
The relief will be abolished completely by the end of 2017.

 

RENT TAX RELIEF
Relief for rent credit will be withdrawn on a phased basis over the next 7 years by reducing the amount of rent that can be relieved at the standard rate of income tax as indicated in the following table.
Tax YearSingle Under 55Single Over 55Widowed/ Married under 55Widowed/ Married over 55
20102,0004,0004,0008,000
20111,6003,2003,2006,400
20121,2002,4002,4004,800
20131,0002,0002,0003,600
20148001,6001,6003,200
20156001,2001,2002,400
20164008008001,600
2017200400400800
20180000
Claimants who were not renting at 7 December 2010 and who subsequently enter into a rental agreement will not be able to claim relief.
EXEMPTION LIMITS
Personal circumstances2012 EURO2013 EURO
Single or Widowed or a Surviving Civil Partner, 65 years of age and over18,00018,000
Married or in a Civil Partnership, 65 years of age & over36,00036,000
The above exemption limits are increased by €575 for each of the first two dependent children and by €830 for the third and subsequent children.
Local Property Tax (LPT)

From 1 July 2013, residential property owners will be liable for an LPT based on the self-assessed market value of their property on 1 May 2013. Revenue will make it as easy as possible for residential property owners to file their LPT return and will offer a range of methods for paying the tax, including phased payment arrangements. Revenue will write to residential property owners in March 2013 and will include detailed information on LPT at that time.

Property values are grouped into value bands. A rate of 0.18% will apply to the midpoint of the value band up to €1m. To calculate how much you will have to pay for 2013 select the value band appropriate to the market value of your property and read across in the table below. For properties valued at over €1m the LPT liability will be calculated as follow: 0.18% on the first €1m and 0.25% on the portion above €1m.

Locl Property Tax
Valuation Band €LPT in 2013 (half year charge) €LPT 2014 (full year charge) €
0 to 100,0004590
100,001 to 150,000112225
150,001 to 200,000157315
200,001 to 250,000202405
250,001 to 300,000247495
300,001 to 350,000292585
350,001 to 400,000337675
400,001 to 450,000382765
450,001 to 500,000427855
500,001 to 550,000472945
550,001 to 600,0005171,035
600,001 to 650,0005621,125
650 001 to 700 0006071,215
700,001 to 750,0006521,305
750 001 to 800 0006971,395
800,001 to 850,0007421,485
850 001 to 900 0007871,575
900 001 to 950 0008321,665
950 001 to 1,000 0008771,755
>€1m – assessed on the actual value at 0.18% on the first €1m and 0.25% on the portion above €1m
Exemptions
Certain properties will be exempt from LPT. These exemptions largely correspond to exemptions from the Household Charge. Exemptions will also apply to new and previously unused properties purchased from a builder or developer between 2013 and 2016, and to second-hand properties purchased in 2013 by a first time buyer.
Deferrals
A system of deferral arrangements for owner-occupiers will be implemented to address cases where there is an inability to pay the LPT under specified conditions (e.g. where the gross income does not exceed €15,000 – single and €25,000 for a couple ). Some owner-occupiers may be eligible to apply for marginal relief, which will allow them do defer up to 50% of their LPT liability. It should be noted that interest will be charged on deferred amounts at a rate of 4% per annum. Further information, including Frequently Asked Questions on LPT and an online LPT calculator, is available on www.revenue.ie. Please note that the information provided is based on details announced in the Budget on 5 December 2012 and is subject to enactment of the Finance (Local Property Tax) Bill 2012.