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Tax Credits Tax Credit |
2010 € |
|
Single Person |
1,830 |
|
Married Person |
3,660 |
|
PAYE Credit |
1,830 |
|
Widowed Person (no dependant children) |
2,430 |
|
One Parent Family Credit |
1,830 |
|
Incapacitated Child Credit Max |
3,660 |
|
Blind Tax Credit Single Person One Spouse Blind Both Spouses Blind |
1,830 1,830 3,660 |
|
Widowed Parent Bereaved in 2009 Bereaved in 2008 Bereaved in 2007 Bereaved in 2006 Bereaved in 2005 Bereaved in 2004 |
- 4,000 3,500 3,000 2,500 2,000 |
|
Age Tax Credit Single/Widowed Married |
325 650 |
|
Dependent Relative |
80 |
|
Home Carer |
900 |
Tax Rates and Tax Bands.
The tax rates remain unchanged at 20% (standard rate) and 41% (higher rate). The tax bands are also unchanged.
|
|
2010 € |
|
Single |
36,400 @ 20% Balance @ 41% |
|
One Parent Family |
40,400 @ 20% Balance @ 41% |
|
Married Couple one Income |
45,400 @ 20% Balance @ 41% |
|
Married Couple – dual Income |
45,400 @ 20% with increase of 27,400 max. Balance @ 41% |
Miscellaneous Reliefs
The Tax Relief for Employing a Carer remains the same forn2010. This can be claimed at the 41%l rate up to a maximum of €50,000.
Rent Tax Relief is also unchanged. This relief is only available at the 20% rate. For under 55’s, the maximum relief is €2,000/€4,000 respectively for single/married couples. For over 55’s, the maximum relief is €4,000/€8,000 respectively for single/married couples..
Relief on service charges remains unchanged. A maximum of €400 tax relief is granted (at 20% tax rate) in 2010 for service charges paid in the year 2009.
Rent-a-Room Scheme
The maximum exemption from income tax under the Rent-a-Room Scheme remains unchanged at €10,000. This applies to rent received, where a person rents out a room or rooms in their home.
Exemption Limits
The exemption limits for persons aged 65 years and over remain at €20,000 for Single/Widowed & €40,000 for Married Couples
Medical Expenses
Medical expenses relief remains at the standard rate for expenses incurred from 1 January 2009. There is an exception for nursing home expenses, which continue to attract relief at the high rate.
Income Levy
The Income Levy rates and thresholds for 2010 are:
|
2010 Income Levy Thresholds 2010 | |
|
Rate | |
|
Income up to €75,036 |
2% |
|
Income from €75,037 to €174,980 |
4% |
|
Income above €174,980 |
6% |
phone: +353 090 6493663 | fax +353 090 649 3190 | address: Main Street, Athlone, Westmeath
