Up To 2Million Income Tax Payers To Benefit From New Financial Measures From Midnight

Sunday, 31 December 2023 11:36

By Oisin Coyne

The package will see the income tax rate cut-off point raised by €2,000 to €42,000.

Up to two million income tax payers are to benefit from new financial measures from midnight tonight.

The package will see the income tax rate cut-off point raised by €2,000 to €42,000.

The new measures which take effect at midnight will see the standard rate of income tax kick in at €42,000 leaving workers €2,000 better off.

Rent Tax credit will be increased to €750 with further increases to the Home Carer Tax Credit, Single Person Child Carer Tax Credit and Incapacitated Child Tax Credit as well

The National Minimum Wage will increase to €12.70 per hour while a single person earning the average annual salary of €47,000 can expect to see an increase in take home pay of €780.

A couple earning €100,000 between them will see an increase in take home pay of €1,560 in 2024, a happy new year for many.

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