Cronin Accountants

Our summary of all the details of Budget 2023 is available here: croninco.ie/budget-2023/ #Budget2023

That concludes our coverage of #Budget2023. Keep an eye out on our website for an in depth review of everything announced today.

Property owners will have to pay a new vacant home tax, 3 times the rate of their Local Property Tax. A property will be considered vacant if it is occupied for less than 30 days in a 12 month period. The tax will be self-assessed through Revenue. #Budget2023

Paschal Donohoe is about to announce #Budget23. Stay tuned for updates throughout.

The 20% public transport fare reduction and the Youth & Student Travel Card discount of 50% on all operators’ services has been extended to end 2023. #Budget2023

To support students, a reduction in the cost of college fees by €1,000 has been announced. Those receiving the SUSI grant will see a once-off double payment. #Budget2023

All households to get electricity credits of €600, made in three instalments. The first will be this year, before Christmas. A lump sum of €400 before Christmas available for those getting the Fuel Allowance. #Budget2023

A pack of cigarettes sees an increase of 50c in excise duty. #Budget2023

2 vouchers can be granted by an employer in a single year. This will apply in the current tax year. (2/2) #Budget2023

The annual limit for the Small Benefit Exemption, which allows an employer to provide limited non-cash benefits or rewards to their workers without the payment of income tax, increased from €500 to €1,000. (1/2)

The Knowledge Development Box (KDB) has been extended for a further 4 years. #Budget2023

A business energy support scheme has been announced, which will assist with paying the increase in energy costs to tax compliant businesses that have seen their energy costs in 2022 increase more than 50% compared to last year. #Budget2023

The Help-To-Buy scheme has been extended by a further 2 years to the end of 2024. A €500 tax credit has been announced for renters. #Budget23

The Home Carer Tax Credit is increased by €100, to support stay at home parents. #Budget23

The Standard Rate cut-off is increased to €40,000 for a single earner & the second USC rate band will be increased by €1,625 to €22,920 to support those on minimum wage. #Budget23

The reduction in excise and the 9% VAT rate for electricity is extended 28 February 2023

Corporation Tax rate to be increased to 15% for companies with revenue in excess of €750M (when introduced). 12.5% Tax rate to remain for those with revenue less than €750M. #Budget2022

Join us for live updates of everything announced at #Budget2022.

Gaming Sector tax credit of 32% of allowable expenditure, capped at €25 million per project to be introduced. #gamingsectorireland #Budget2022

Corporation Tax Start-up relief for new companies extended to 2026. #Budget2022 #Startup #Entrepreneurs

Farming stock relief measures have been extended. #Budget2022 #Farmers