MORE ON BUDGET 2012
Taxation changes will not be agreed by government until next week, with the spending cuts being decided first, according to The Sunday Business Post.
Tag: Budget 2012
GARDAI TO LOSE ALLOWANCES
Income tax increases may be off the political agenda but gardaí are claiming other government charges will have the same impact when introduced in the New Year, according to The Sunday Business Post.
THE BUDGET & PENSIONS
Two-fifths of people would reduce their pension contributions if tax reliefs are reduced, according to a survey carried out on behalf of pensions company Invesco.
SUCCESSION PLANNING
The richest people in Ireland trust their children to look after their inheritances more than their counterparts in other countries, according to a survey by Barclays Wealth reported in The Sunday Times.
BUDGET LEAKS OR EDUCATED GUESSWORK?
The government is committed to raising almost €5 billion in additional taxes over the next four years and it is becoming increasingly clear where they intend to get it, according to The Sunday Business Post. The headings below outline the grim scenario we face:
PRSI INCREASES?
A €1.9 billion deficit in the Social Insurance Fund must be addressed in the Budget, leading to increased speculation PRSI might be extended to include unearned income such as rent, dividends and shares, according to The Sunday Business Post.
BUDGET 2012 – AN OVERVIEW
Now the dust has settled on the presidential election jamboree, the media is beginning to turn its attention from the circus to the bread with increased coverage on what is likely to befall us in the upcoming Budget.
BUDGET 2012 UPDATE
Our international paymasters will deign to allow the Government maintain income tax rates and welfare payments at their current levels despite reports to the contrary, according to The Sunday Business Post.
MORE BUDGET 2012 SPECULATION
The Sunday Independent speculates this weekend on the likely taxes Government will introduce or tweak in the forthcoming Budget 2012 and it doesn’t make for pretty reading. Plastic bags, medical costs, cars and children are all likely revenue-raisers.
BUDGET SPECULATION STARTS HERE
Speculation on what will and won’t be in the Budget has started in earnest this month. It seems inevitable that the upcoming Budget will have a few nasty income tax surprises in store, regardless of political promises made during the election. “Irish workers could easily be between €1,000 and €2,000 less well off once the Budget kicks in in two months’ time” writes Louise McBride in the Sunday Independent.
GOVERNMENT SPENDING CUTS
Thanks to Alan Shatter, the justice minister, we also know that the Government plans to take some money from its own pockets as well. In a heated government exchange last week the minister unexpectedly revealed he’s planning to shave 15.7%, or €340m, from his department’s budget over the next three years, according to the front page story in the Sunday Times.
INTRODUCING THE ‘FAT TAX’
If you want to save your Government some money, put down the fizzy drink and donut. Minister for health Dr James Reilly is exploring the introduction of a “fat tax” on sugary, fat or high salt foods to defray the cost of illnesses brought on by poor diet such as obesity and type 2 diabetes, says the Sunday Business Post.
FOUR STEPS TO SAVE TAX
In a timely piece given the fast-approaching Budget and the end of the tax year for the self-employed and those with non-PAYE incomes, The Sunday Independent details some of the ways still open of minimising tax. When the Government says there will be no increase in income tax, does anyone really believe it? Well, like the angel dancing on the head of the proverbial pin, it may be literally true but in effect chances are everyone will be paying more tax next year, whether in the form of levies, changes to reliefs or revised tax bands.