With Budget 2013 only a few days away (Dec 5th) – no one is sure of exactly what the government plans are . We have had a few ideas of What Might be in Budget 2013 – but we will have to wait for the full details in less than 2 weeks.
There have been a few other proposals for Budget 2013 published recently by opposition parties – so we have done a quick summary of what the opposition parties have been saying they would do.
Fianna Fail :
Property Tax : – even though they were in government when a property tax was agreed with the Troika , Fianna Fail are now saying that it is not the right time for a property tax to be introduced.
USC : Increase by 3% on earnings over €100,000
Tax relief on pension contribution: Cut to 30% and reduce the cap on the annual amount attracting relief from €115,000 to €70,000.
Public Sector Pensions : pensions between €75,000 and €100,000 to be reduced by 25% and any excess over €100,000 to be reduced by 30%
Mortage Interest Relief : Extend it for First Time buyers for a further 12months.
Agricultural diesel duty – raise it to be thae same as other motor fuels.
New tax credit of up to €2,500 to be made available for approved home improvement works .
Alcohol : A new levy of 10% on alcohol sales in off licences.
Fat Tax : A new Excise duty on high sugar/salt foods (ie 3c on bar of chocolate)
Capital Gains Tax and Capital Aquisitions Taxes increase rate to to 35%
Increase duty on Tobacco
Rent Supplement – Increase of €4 per week in the tenant contribution for individuals ( €8couples) .
NPPR “restructure” to focus on high value homes and get 35 Million more revenue
Increase prescription charges for medical card holders to €1.50
Redesign of motor tax system including rate increases and abolish the “off the road” zero tax facility .
DIRT increase from 30% to 35%
Increase excise duty on a bottle of wine by € 0.75 per bottle
Personal Injury compensation payments to be made annually or monthly instead of a lump sum.
Ireland needs a “fair budget”,one hot topic is,Reducing car tax by at least 25 percent to caver all cars up to 2.2 ltrs any cars above 2.2ltrs should be taxed at a higher rate. this should be looked as increaces can be made in many many other areas also.