FARMER

Sunday Independent (Ireland) - Business & Appointments - - FRONT PAGE -

You’re a 40-year-old dairy farmer whose farm in­come comes to €60,000. You’re mar­ried with three young chil­dren and your wife stays at home to look af­ter the chil­dren.

At €45,823, your take-home pay will be €973 higher — or €18 a week more — un­der Bud­get 2018 than it was in 2006, ac­cord­ing to Devlin.

A boost in the tax cred­its which you can claim is one of the main rea­sons for your jump in take­home pay.

The home carer’s tax credit — which is paid to mar­ried cou­ples and civil part­ners where one spouse or part­ner stays at home to look af­ter a de­pen­dent child —will be in­creased from €1,100 this year to €1,200 in 2018.

In 2006, the home carer’s tax credit was only worth €770.

You’ll also ben­e­fit from the in­crease in the earned in­come tax credit — which is a tax al­lowance aimed at the self-em­ployed.

The value of the earned in­come tax credit will in­crease from €950 this year to €1,150 in 2018. As this tax credit was only in­tro­duced in 2016, you could not claim it in 2006.

An­other plus of Bud­get 2018 is the in­crease in

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