We are pleased to provide you with a summary of the 2020 Budget Announcements from yesterday’s budget speech by Pascal O’Donoghue. You can access our summary by clicking on the link below.
As expected, this was not a give-away budget, and has been prepared in the shadow of BREXIT.
Virtually no change in income tax (with exception of home carer credit and the self-employed earned income credit of €100 and €150 respectively
Increase in ER PRSI rate to 11.05% (0.1%) for 2020
Small increase in Class A (parent to child) CAT threshold – by €15,000 to €335,000, for gifts/inheritances after 9 October 2019
Welcome improvements in Employment Investment and Incentive Scheme
Stamp duty on commercial property transactions increased from 6% to 7.5% with effect from 9 October 2019
Many of the expenditure commitments are within packages with little detail provided yet - these details will follow over the next few days
If you want to discuss how any aspect of the Budget 2020 affects you, please do contact us.