Budget 2011 – Income Tax Credits and Bands

The following Income Tax Credits & Bands were unveiled in today’s Budget.

In general Tax Credits and Bands have been cut by 10%.

Budget 2011 Cuts - Brian Lenihan Minister for Finance

Income Tax Credits & Bands  – Budget 2011
2011 2010
Employee Tax Credit 1,650 1,830
Personal Tax Credits
– single 1,650 1,830
– married 3,300 3,660
Widowed person bereaved in year of assessment 3,300 3,660
One Parent Family Tax Credit 1,650 1,830
Home Carer Tax Credit 810 900
Dependent Relative Tax Credit 70 80
Incapacitated Child Tax Credit 3,300 3,660
Blind Persons Credit
– single 1,650 1,830
– married (both blind) 3,300 3,660
Additional credit for certain widowed persons 540 600
Widowed Parent Tax Credit:
year 1 3,600 4,000
year 2 3,150 3,500
year 3 2,700 3,000
year 4 2,250 2,500
year 5 1,800 2,000
Age Credit
– single 245 325
– married 490 650
Standard Rate Bands from 1 January 2011
Single/Widowed 32,800 36,400
Married One Income 41,800 45,400
Married Two Incomes 65,600 72,800
Max income transferable between spouses 41,800 45,400
One Parent/Widowed Parent 36,800 40,400
Age Exemption Limits
Single 18,000 20,000
Married 36,000 40,000

 

 

Comments are closed.

%d bloggers like this: