Starting 2024 on a positive note!
Photo via UnsplashThe changes include adjustments to the main tax credit, USC rates and the standard rate cut-off point.
Close on 2 million income-tax payers will benefit from the changes.
The Irish Independent reports that the package of changes will see Rent Tax credit increased to €750 from tomorrow.
With further increases to the Home Carer Tax Credit, Single Person Child Carer Tax Credit and Incapacitated Child Tax Credit as well.
Personal tax credits, including employee and earned income will all increase from €1,775 to €1,875.
The Standard Rate Cut-Off Point will increase by €2,000 from €40,000 to €42,000 for single persons.
A single person earning the average annual salary of €47,000 can now expect to see an increase in take home pay of €780 in 2024.
The National Minimum Wage will increase to €12.70 per hour.
A couple earning €100,000 between them will see an increase in take home pay of €1,560 in 2024.
