Here is a link to a copy of the bill, and a list of key measures.
Budget 2012 – key tax points
Income tax
Deposit Interest Retention Tax (DIRT) increased to 30% (previously 25%).
25% mortgage interest relief for first-time buyers extended to 2012.
PRSI
Extended to previously exempt income (2013).
Universal Social Charge (USC)
The first €10,036 of earnings is exempt (previously €4,004).
Property relief surcharge of 5% will apply to investors with gross income above [...]
Revenue have extended the ROS pay and file deadline by one day to 16.11.2011.
Payment of tax by VISA and Mastercard
Revenue are now accepting payments by Visa and Mastercard. Persons wishing to pay by credit card should contact 1890 27 37 47.
Under the self-assessment “pay and file” system, if you are: self-employed, an owner-director of a private company, in receipt of rental income from property in Ireland or abroad, or in receipt of investment income, you must file a tax return in respect of income and capital gains arising in 2010, on or before 31.10.2011. You must also pay any outstanding [...]
Delighted to learn in today’s Irish Times that the Minister for Finance, Michael Noonan hopes to cut stamp duty (on commercial property) from 6% to 1% – to bring it into line with the UK rate. Don’t anyone mention that the UK rate on non-residential property is actually 4%.
The Sunday Business Post yesterday reported that Revenue are investigating various Garda allowances. Let’s just assume that there is a tax liability of €900 million. Who is responsible for paying the tax? The Department of Justice – It is the employer’s responsibility to ensure PAYE is properly applied.
So we have one Government Department [...]
Gifts and inheritances with a valuation date in the 12 month period ending on 31 August 2011 must be included in the return to be filed by 30 September 2011.
For 2012 and later years, where the valuation date arises between 1 January and 31 August, the Pay and File deadline is 30 September [...]
From 1 January 2012, following a decision of the European Court of Justice, VAT will be chargeable on admission to historic homes and gardens.
