INCOME TAX

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MAIN PERSONAL TAX CREDITS
	2012	2013
Personal Tax Credit
Single Person	1,650	1,650
Married or in Civil Partnership	3,300	3,300
PAYE Credit	1,650	1,650
Widowed Person or Surviving civil Partner (without dependent children)	2,190	2,190
One Parent Family	1,650	1,650
Incapacitated Child Credit Max	3,300	3,300
Blind Tax Credit: Single Person Maried or in Civil Partnership – One Spouse or Civil Partner Blind Maried or in Civil Partnership – Both Spouses or Civil Partners Blind	1,650 1,6503,300	1,650 1,6503,300
Widowed Parent BereavedBereaved in 2012201120102009 2008 2007	– 3,600 3,150 2,700 2,250 1,800	3,600 3,150 2,700 2,250 1,800 –
Age Credit
Single or Widowed or Surviving Civil Person	245	245
Married or in a Civil Partnership	490	490
Other credits
Home Carer’s Credit (max)	810	810
Dependent Relative (max)	70	70

INCOME TAX RATES
	2012 EURO	2013 EURO
Single or Widowedor Surviving civil Partner, without Dependant Children
20% on first	32,800	32,800
Balance	41%	41%

Single or Widowed or Surviving Civil Partner, qualifying for One Parent Family Tax Credit
20% on first	36,800	36,800
Balance	41%	41%

Married or in a Civil Partnership, one Spouse or Civil Partner with Income
20% on first	41,800	41,800
Balance	41%	41%

Married or in a Civil Partnership, both Spouses or Civil Partners with Income
20% on first	41,800 with increase of 23,800 max	41,800 with increase of 23,800 max
Balance	41%	41%


Tax Allowance
Cost of employing carer for incapacitated individual allowed at marginal rate of tax	50,000	50,000
Rent-a-Room Relief (private residence)	10,000	10,000

UNIVERSAL SOCIAL CHARGE (USC)
The USC is a tax payable on gross income, including notional pay, after any relief for certain capital allowances, but before pension contributions. The USC is effective from 1 January 2011 and and will be on a cumulative basis from 1 January 2012.
USC Thresholds (Aged Under 70years)	2012	2013
Income up to €10,036	2%	2%
Income €10,036.01 to €16,016	4%	4%
Income above €16,016	7%	7%

USC Thresholds (Aged 70years or over)	2012 Individuals aged 70 years or over.Individuals who hold a full medical card (regardless of age)	2013 Individuals aged 70 years or over whose aggregate income for the year is €60,000 or less.Individuals (aged under 70) who hold a full medical card whose aggregate income for the year is €60,000 or less.
Income up to €10,036	2%	2%
Income above €10,036	4%	4%
Exempt Categories Where an individual’s total income for a year does not exceed €10,035 in 2012and 2013 All Dept of Social Protection payments Income already subjected to DIRT “Aggregate” income for USC purposes does not include payments from the Dept of Social Protection A”GP only” card is not considered a full medical card

MORTAGE INTEREST – TAX RELIEF

Interest paid on qualifying home loans taken out on or after 1 January 2004 and on or before 31 December 2012 will (subject to the exception below) qualify for tax relief up to the end of 2017 at the following general rates and thresholds.

First-Time Buyers – The tax relief on interest paid on qualifying home loans is 25% for years 1 and 2; 22.5% for years 3, 4 & 5 and 20% for years 6 and 7. The upper thresholds in respect of the amount of interest paid qualifying for tax relief are €20,000 for individuals who are married, in a civil partnership or widowed and €10,000 for individuals who are unmarried and not in a civil partnership. After year 7, the rates and thresholds for relief are as for non-first time buyers.

Non-first time buyers – The tax relief on interest paid on qualifying home loans is 15%. The upper thresholds in respect of the amount of interest paid qualifying for tax relief are €6,000 for individuals who are married, in a civil partnership or widowed and €3,000 for individuals who are unmarried and not in a civil partnership.

Exception – However, notwithstanding the rates of tax relief mentioned above, for individuals who purchased their first principal private residence on or after 1 January 2004 and on or before 31 December 2008, the rate of tax relief on the interest paid on the loan to purchase that property will, for the tax years 2012 to 2017, be 30%.

The relief will be abolished completely by the end of 2017.

RENT TAX RELIEF
Relief for rent credit will be withdrawn on a phased basis over the next 7 years by reducing the amount of rent that can be relieved at the standard rate of income tax as indicated in the following table.
Tax Year	Single Under 55	Single Over 55	Widowed/ Married under 55	Widowed/ Married over 55
2010	2,000	4,000	4,000	8,000
2011	1,600	3,200	3,200	6,400
2012	1,200	2,400	2,400	4,800
2013	1,000	2,000	2,000	3,600
2014	800	1,600	1,600	3,200
2015	600	1,200	1,200	2,400
2016	400	800	800	1,600
2017	200	400	400	800
2018	0	0	0	0
Claimants who were not renting at 7 December 2010 and who subsequently enter into a rental agreement will not be able to claim relief.

EXEMPTION LIMITS
Personal circumstances	2012 EURO	2013 EURO
Single or Widowed or a Surviving Civil Partner, 65 years of age and over	18,000	18,000
Married or in a Civil Partnership, 65 years of age & over	36,000	36,000
The above exemption limits are increased by €575 for each of the first two dependent children and by €830 for the third and subsequent children.

Local Property Tax (LPT)

From 1 July 2013, residential property owners will be liable for an LPT based on the self-assessed market value of their property on 1 May 2013. Revenue will make it as easy as possible for residential property owners to file their LPT return and will offer a range of methods for paying the tax, including phased payment arrangements. Revenue will write to residential property owners in March 2013 and will include detailed information on LPT at that time.

Property values are grouped into value bands. A rate of 0.18% will apply to the midpoint of the value band up to €1m. To calculate how much you will have to pay for 2013 select the value band appropriate to the market value of your property and read across in the table below. For properties valued at over €1m the LPT liability will be calculated as follow: 0.18% on the first €1m and 0.25% on the portion above €1m.

Locl Property Tax
Valuation Band €	LPT in 2013 (half year charge) €	LPT 2014 (full year charge) €
0 to 100,000	45	90
100,001 to 150,000	112	225
150,001 to 200,000	157	315
200,001 to 250,000	202	405
250,001 to 300,000	247	495
300,001 to 350,000	292	585
350,001 to 400,000	337	675
400,001 to 450,000	382	765
450,001 to 500,000	427	855
500,001 to 550,000	472	945
550,001 to 600,000	517	1,035
600,001 to 650,000	562	1,125
650 001 to 700 000	607	1,215
700,001 to 750,000	652	1,305
750 001 to 800 000	697	1,395
800,001 to 850,000	742	1,485
850 001 to 900 000	787	1,575
900 001 to 950 000	832	1,665
950 001 to 1,000 000	877	1,755
>€1m – assessed on the actual value at 0.18% on the first €1m and 0.25% on the portion above €1m

Exemptions
Certain properties will be exempt from LPT. These exemptions largely correspond to exemptions from the Household Charge. Exemptions will also apply to new and previously unused properties purchased from a builder or developer between 2013 and 2016, and to second-hand properties purchased in 2013 by a first time buyer.

Deferrals
A system of deferral arrangements for owner-occupiers will be implemented to address cases where there is an inability to pay the LPT under specified conditions (e.g. where the gross income does not exceed €15,000 – single and €25,000 for a couple ). Some owner-occupiers may be eligible to apply for marginal relief, which will allow them do defer up to 50% of their LPT liability. It should be noted that interest will be charged on deferred amounts at a rate of 4% per annum. Further information, including Frequently Asked Questions on LPT and an online LPT calculator, is available on www.revenue.ie. Please note that the information provided is based on details announced in the Budget on 5 December 2012 and is subject to enactment of the Finance (Local Property Tax) Bill 2012.

TAX SUMMARIES