The Irish Government announced more tax hikes on middle-income earners in Ireland, due to come into effect on May 1st. Changes included:
- Income levy rates doubled to 2%, 4% and 6%. Thresholds lowered to €15,028 for the 2% rate, €75,036 for the 4% rate and €174,980 for the 6% rate.
- Health Levy rates will double to 4% and 5% from 1 May 2009. For individuals earning €26,000 - €75,036 health levy goes up to 4% and for people earning more than €75,036 it will increase by 2.5- 5%.
- PRSI ceiling now up to to €75,036. Up unitl now no PRSI was paid on income over €52,000 but now there's 4% on all income up to €75,036 from 1 May 2009.
- Mortgage Interest Relief now only available for the first seven years
- Early Childcare Supplement will be halved to €41.50 from 1 May 2009 and scrapped altogether in 2010.
- DIRT increase of 2% on interest on savings.
- Cigarettes up 25 cent per pack of 20
- Diesel up 5 cent a litre
- Job Seekers Allowance halved to €100 for people under 20.