Budget 2014 – The Details

Confirmed Changes in Budget 2014:

Medical Cards means test for over 70’s : The income thresholds will be reduced from €600 a week to €500 a week for a single person, and reduced from €1,200 a week to €900 a week for a couple. Less over 70’s will qualify for a medical card – but they will still get a GP visit card. More Here

Reduced Jobseekers allowance for younger people. More Details Here

One Parent Family Tax Credit no longer awarded to both parents . More details Here

Free GP visits for all under 5s – more here…

Household Benefits Package – the telephone allowance will be  discontinued  for all recipients from 1 January 2014 . This measure will save €44 million.

Rent Allowance and Mortgage Interest Supplement – The minimum contribution for couples is being increased by €5 per week, from €35 to €40. Details Here

Maternity Benefit will be “standardised” at €230 per week for new claimants from January 2014.   (currently ranges from €217.80 to €262). This will save €30 million in 2014

Illness Benefit  : The number of waiting days for entitlement is being increased from 3 days to 6 days. This will save €22 million.

Increases of 10c on 20 cigarettes ; 10c On a Pint or a measure of Spirits ; 50c on 75cl bottle of wine. All from midnight tonight. Wine shops expect queues!

Deposit Interest Retention Tax  (DIRT) on savings to be  increased to 41%  from 1st January 2014.

No increase to Petrol or Diesel or Motor Tax
No increases in income tax or the Universal Social Charge in 2014.
Corporation Tax remains at 12.5%
VAT rates unaltered

New Bank Levy to raise  €150 million for the period from 2014 to 2016.

A new “Start Your Own Business”  scheme for people  who have been unemployed for at least 15 months – if they start their own business they get a two-year exemption from income tax. More Here

9% Lower Vat Rate to be retained on tourism related services

New 13.5% tax relief available on Home Renovations in 2014 and 2015. Available On certain expenditure over €5,000 up to a maximum of €30,000. Details Here

Exemption on capital gains tax on property purchases extended to the end of 2014.

Book Rental : Primary schools  will receive €100 euro per child or €150 in the case of disadvantaged schools to allow them to establish book rental schemes.

Air Travel tax reduced to Zero from €3 per flight.

Prescription Charges rising by €1 to €2.50 per item. The cap is rising to €25 a month from €19

Mortgage Interest Supplement (Paid to people on low income) will no longer be available for new claimants from Jan 2014 and will be phased out for existing claimants.

Bereavment Grant (€850) is to be abolished.  (This can currently be claimed by a relative of anyone who has paid enough PRSI )


8 thoughts on “Budget 2014 – The Details

  1. Just to clarify, an employee has no right under employment law to be paid while on sick leave….as stated on citizens information website. So they don’t have to pay for the first 3 days or any days.

  2. What about Medical Cards holders where there is a bilaterl agreement with the UK and the Irish Governement /HSE receives approx 365.00000 million per annum to cover the health care of these ex pats including their prescriptions ( which are free for them in the UK ) – why are they having to pay and bear further increases for their prescriptions?? – WHERE IS THIS MONEY GOING? – SHOULD IT NOT BE REDUCED BY THE AMOUNT THEY ARE CHARGED AND REFUNDED TO THE UK???

  3. the government said when we paid house tax it was fixed for 3 years one year on they have started to increase charges despite the problems this creates for the less well off.
    it’s a take from the poor to make the rich wealthier

  4. Does anyone know can you qualify for both the” home improvement incentive scheme “and the seai.ie grant scheme( for insulation) at the same time ??

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