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Wednesday, October 2, 2024

Budget 2025 calculator: Find out what the incoming tax changes are worth to you

Budget 2025 calculator: Find out what the incoming tax changes are worth to you

Two standout announcements were a €2,000 hike to the point at which PAYE workers start to pay the higher 40pc income tax rate.

There is also a €125 increase in the main income tax credit. And the 4pc rate of Universal Social Charge is also set to drop to 3pc.

Other changes include an increase in the tax credit for renters and a series of measures targeted at parents.

Accounting firm KPMG have built a budget calculator to help Irish Independent readers assess how the changes will impact you.

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