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Main Points | Budget 2013

Budget 2013 Main Points

Draw your own conclusions but the cumulative effect will be savage for the average family. 

Child benefit cut by €10 per month

Unvouched expenses for TDs abolished

Third-level fees to rise by €250 per year

DIRT increases by 3% to 33%

Expenditure adjustments to toal €2.25bn

Motor tax to rise from January 1st

Excise duty on tobacco to rise

€1 duty increase on 75cl bottle of wine

10 cent rise on spirits, beer and cider

No increase on petrol/diesel

Carbon tax extended to solid fuels

Corporation tax remains unchanged at 12.5%

Homes bought in 2013 exempt from property tax

Property tax based on market value introduced

Property tax will be collected by the Revenue

Capital Acquisitions Tax threshold falls by 10 per cent.

Increase in USC for over 70s with incomes of €60,000+

Film tax relief extended to 2020

Tourism industry’s 9% VAT rate to remain in 2013

Stock relief for farmers extended

CRO to publish guidance for SMEs on credit

CRO to extend team of reviewers

Diesel rebate for hauliers from July 1st

R&D tax credits amended to encourage innovation

Tax reform plan to support SMEs

Noonan confident Ireland will return to markets

Minister for Finance Michael Noonan begins speech

via Main Points | Budget 2013 | The Irish Times.

via Main Points | Budget 2013.

Exchequer Returns: €26bn September tax take ahead of target but pressures remain

THE tax take for the nine months ended September was €26.1bn, €385m ahead of expectations, new Exchequer Return figures show.

Three of the four main tax sources – income, corporation and VAT – were ahead of target with excise duties below for the third consecutive month.

The exchequer deficit was just over €11bn, compared with €20.6bn last year, due mainly to the settlement of the IBRC promissory note payment.

And the Government has warned that pressure points remain, particularly in the departments of health and social protection.

“Although challenging targets still remain for the last quarter, I am confident that the overall tax revenue target for 2012 can be achieved,” Reform Minister Brendan Howlin said.

He added that departmental expenditure remains less than 1pc above expectations “with pressures on health and social protection areas.”

The figures also show that the Government is set to meet budget targets set out by the EU/IMF/ECB troika.

“The tax base is growing…..and September 2012 is the third month this year that the exchequer revenues exceeded expenditure – this last happened in 2007,” said Finance Minister Michael Noonan.

He added that the return by the National Treasury Management Agency, which manages the country’s debt, to the bond markets this year was proof that action being taken by the Government to fix Ireland’s finances is being recognised by investors.

via Exchequer Returns: €26bn September tax take ahead of target but pressures remain – Irish, Business –

via Exchequer Returns: €26bn September tax take ahead of target but pressures remain – Irish, Business –

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