BUDGET 2011 TAX HIKES
Standard and higher rates of income tax are set to rise by up to 2% after December’s Budget and thousands of lower-income earners can expect to be dragged into the tax net, The Sunday Times reports.
Standard and higher rates of income tax are set to rise by up to 2% after December’s Budget and thousands of lower-income earners can expect to be dragged into the tax net, The Sunday Times reports.
This week’s Sunday newspapers invented a whole new genre of misery lit with the main theme being the sheer scale of the economic crises in which we find ourselves. The analogy doesn’t end there: the coverage does tend to induce page-turning and the ending doesn’t look pretty.
‘You don’t have to be super-rich to invest in films – generous tax relief means that an investment of the maximum €50,000 would save you €20,500, and even better, you get the benefit up front’.
The annual Sunday Business Post supplement ahead of October 31 self-assessment tax deadline weighs in this year at 14 pages, covering every implication for both individuals and companies.
The €2.7 billion paid by the government to retired public sector workers will have to be taxed further and the Croke Park agreement will become null and void as the price Ireland must pay to stay out of the European bailout fund, a leading credit ratings analyst has told The Sunday Tribune.
KEY DATES FOR OCTOBER 2010:
14th
P30 monthly return and payment for September 2010
14th
RCT30 monthly return and payment for September 2010
21st
Corporation tax preliminary payment for accounting periods ending between 1 – 30 November 2010
21st
Corporation tax returns for accounting periods ending between 1 – 30 November 2009
21st
Corporation tax returns for accounting periods ending between 1 – 31 January 2010
21st
Corporation tax balancing payment due for accounting payments ending between 1 – 31 January 2010
31st
Income tax preliminary payment for 2010
31st
Income tax balancing payment for 2009 liability
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The Revenue Commissioners have introduced new rules for businesses who can’t pay their tax bills in full, according to The Sunday Business Post, which says the revised code of practice will come into force from Friday.
The Irish Taxation Institute is demanding the Revenue come clean on the tax avoidance schemes it plans to target after the upcoming December Budget, according to The Sunday Business Post.
The Personal Finance Section of The Sunday Business Post provides timely advice on how to avoid getting into trouble with the taxman and how to survive a dreaded audit.
The Revenue is targeting Irish owners of foreign investment properties who are now disposing of them to bolster their depleted cash reserves, The Sunday Business Post states.
Taxpayers will be able to amend their tax returns this year after they have been submitted, The Sunday Business Post reports.
The government is looking for tax hikes totalling between €500m and €750m in the next Budget but a final decision on where the burden will fall will not be taken until November, according to The Sunday Business Post.