Tax Update

Tax Update

Know Your Tax Credits

Tax Credits directly reduce the amount of tax that you pay.

Your tax credits are given for a full tax year. Some tax credits are given automatically and others you must claim. You cannot get a refund of any unused tax credits, and you cannot carry them over into another tax year.

It is important to be aware of tax credits and how they apply to you.

Read more at https://www.revenue.ie/en/personal-tax-credits-reliefs-and-exemptions/index.aspx

Budget 2024

Tax credits can change from year to year, depending on what is decided at budget time and subsequently passed into law. In Budget 2024 there were some increases to tax credits such as the Earned Income Tax Credit which was increased from €1775 to €1875. See leaflet at link below for more details:

https://www.revenue.ie/en/corporate/press-office/budget-information/2024/budget-summary.pdf

 

23 January 2024 Revenue launches information campaign for PAYE

https://www.revenue.ie/en/corporate/press-office/press-releases/2024/pr-012324-information-campaign.aspx

 

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