What Budget 2018 means for someone earning around €20000

Budget 2018: All You Need To Know

Other tax changes will include a sugar tax, a further drop in DIRT tax by 2%, a 50c increase in the price of cigarettes, and the retention of the special tourism VAT rate of 9% for hotels.

The Minister also announced a new Key Employee Engagement Programme (KEEP) to support small and medium sized businesses in their efforts to attract and retain key employees in a competitive global labour market, by providing for an advantageous tax treatment on share options. Sugar tax will add 7c-10c on a can of fizzy drink, depending on its sugar level.

Finance Minister Paschal Donohoe has said the point at which an income earner pays the higher rate of income tax will rise next year by €750 a year. A typical pack of cigarettes will now cost you around 12 euro.

An additional 500 civilians are also to be hired into the force.

The government stuck to its ratio of over 2:1 in favour of spending increase over tax cuts, increasing current spending in line with the 3.5 percent growth in the economy as services try to keep pace with a population that is also the fastest growing in the EU.

The levels are consistent with the rates being introduced in the United Kingdom and will commence at the same time in April next year subject to State aid approval.

Thailand junta to hold elections in November 2018
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Chicago man blinded in one eye by baseball sues the sport
There also was an incident last month at New York's Yankee Stadium in which a 2-year-old was struck in the face by a line drive foul ball.

Iran's Revolutionary Guard chief warns US against new sanctions
The United States already blacklists some individuals and entities for supporting IRGC activities, but not the Guards themselves. Several exchangers said they had stopped selling dollars from Monday and were waiting to assess the trend in the market.

A "Brexit Loan Scheme" is to be set up with €300m for SMEs who need to innovate to meet the challenges posed by the United Kingdom leaving the EU.

An extra €2.5m for Irish language training in 2018. And while the Child Benefit payment is not expected to increase, free childcare hours for toddlers will be made available. Meanwhile, the Minister for Agriculture gets €50m for Brexit response measures in 2018.

The entry point to USC remains at €13,000.

A Christmas bonus of 85% will also be paid to social welfare recipients.

He said the ceiling for the new 2pc rate is being raised from €18,772 to €19,372 to ensure that full-time workers won't be hit with a higher rate of USC, which would wipe out any gains.

Some social welfare payments are expected to rise by €5 per week, including the State Pension and Lone Parents Allowance.


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