Here are a few bullet points on what we know about Budget 2025 so far.
You can follow Tuesday’s announcements live here on www.irishtimes.com
- €2.2 billion cost of living package
- Minimum wage to increase by 80c from January 1st, 2025, bringing it to €13.50 an hour
- Reduced 9 per cent VAT on electricity and gas extended until April 30th, 2025
- €3 billion bundle for infrastructure including spending on water and energy facilities
- Income tax package worth €1.6 billion confirmed
- USC: Entry level for new 3 per cent rate increased by €1,622 to €27,382
- Extension of the Help to Buy scheme to 2029
- Extension of mortgage interest relief to 2025
- Landlord pre-letting tax relief scheme extended to end of 2027
- Cigarettes: €1 increase in excise duty on packet of 20, bringing cost to €18.05 from midnight following a Dáil vote on excise duty
- Vaping: Tax to be introduced from mid-2025 of 50c per ml of eliquid, bringing typical price of disposable device to €9.23 including VAT
- Alcohol: No increase in excise duty
- Energy credit of €250 over two payments – one before the end of the year and one in 2025
- Two double child benefit payments, in November and December: €280 per child
- Rent tax credit to rise by €250, to €1,000 and €2,000 for a jointly assessed couple for 2025
- Carbon tax rate per tonne of carbon dioxide emitted for petrol and diesel will go up €7.50, from €56 to €63.50, from October 9th
- Inheritance tax: Capital Acquisition Tax thresholds to increase from €335,000 to €400,000
- Properties worth over €1.5 million to pay 6 per cent stamp duty
- An October bonus double payment for welfare recipients, another welfare Christmas bonus payment
- Amount an employer can give employees as a bonus payment to increase to €1,500
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