New Upper Rate of 48% if you earn over €100k

In the last week, the Labour gave some indication as to what they would do in the next budget.  Specifically, regarding taxation they mentioned:

• A new upper tax rate of 48% for those earning over €100,000
• Increasing the second property tax from €200
• introducing water charges – but only in conjunction with metering

They also did not rule out taxing lower paid worker stating “A well-structured universal levy could have a significant role in achieving savings here”.

So it would appear that labour would favour the introduction of a new levy such as the Universal Social Charge proposed by the ESRI.

Budget Day is the 7th December and don’t forget to check out our Budget Calculator which will be updated the evening of the Budget to find out how the budget will affect you