Mortgages: Mortgage Interest Relief (MIR) is being increased to 30 per cent for first-time buyers who bought their home between 2004 and 2008. First-time buyers who purchase in 2012 can get MIR at 25 per cent, while it will be available at 15 per cent for non-first-time buyers who purchase this year.
Stamp Duty: Stamp Duty will now come under self-assessment, as with other taxes.
Universal Social Charge: The minimum threshold to qualify for making the payment is being raised from €4,004 to €10,036.
Tax evasion: The Bill proposes granting the Revenue extra powers when investigating serious tax offences or fraud to apply for a court order to access documents or information.
Skilled workers: A Special Assignee Relief Programme is being introduced to cut employers’ costs in hiring skilled workers from overseas to work in their Irish-based operations. Employees signed up for at least one year and a maximum of five years will be exempt from income tax on 30 per cent of salary between €75,000 and €500,000.
DIRT: The Deposit Interest Retention Tax is being increased to 30 per cent (up 3 per cent), and to 33 per cent for some longer-term savings products. This applies for interest paid or credited on or after 1 January 2012.
R&D tax credits: Companies who receive a research and development tax credit can give all or part of it to key employees. The claim cannot exceed the corporation tax payable by the company over that accounting period. Key employees cannot be the company’s directors and three-quarters of their work for that period "in the conception or creation of new knowledge, products, processes, methods and systems". Retirement relief: In an effort to incentivise farmers to transfer their agribusiness to their successor sooner, the Bill introduces an upper limit of €3m on retirement relief for business and farming assets disposed of within the family when the person doing the transfer is over 66 years of age. (This was introduced in the Budget and applies for people who are aged 66 now or who will be by 31 December 2013.)
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Domicile levy: The Bill removes the condition of Irish citizenship for the payment of the €200,000 domicile levy from this year onwards. The changes mean that non-residents in Ireland will not be able to avoid the payment on the basis of their not being an Irish citizen. Note: it applies for individuals whose worldwide income exceeds €1m, whose Irish property is valued at more than €5m and whose tax liability in a tax year is less than €200,000.
(07 Sep 2011)
On Friday the 22nd of July a group of locals from Crossdoney and Grousehall started the non-stop journey from Mizen Head to Malin Head in a vintage Ford 4600 on a unique fund raising mission. The 620km road trip had been organised in aid of two local and very deserving charities; St Christopher’s Hospice and Cavan/Monaghan Cancer Homecare/Palliative Care.
(07 Sep 2011)
On Friday the 22nd of July a group of locals from Crossdoney and Grousehall started the non-stop journey from Mizen Head to Malin Head in a vintage Ford 4600 on a unique fund raising mission. The 620km road trip had been organised in aid of two local and very deserving charities; St Christopher’s Hospice and Cavan/Monaghan Cancer Homecare/Palliative Care.
(08 Aug 2011)
August & September Tax Deadlines, click for more information.
(02 Aug 2011)
The changes to the Vat rate on the 1st July 2011 has caused a stir in the press and confusion among the public with many consumers unaware of the Vat rate change. The reason for the amendment to certain item's Vat rate is to stimulate spending in certain sectors.
(15 Feb 2010)
A 7.0-magnitude earthquake hit the Haitian capital of Port-au-Prince on January the 12th with devastating effects. Amatino Partners joined the Concern Haiti Earthquake Appeal by collecting for the worthy cause both in their offices and in Dunnes Stores in Cavan and Monaghan.
(05 Feb 2010)
Click here for the full report.
(10 Nov 2009)
We will keep you up to date on the Budget 2010. Sign up for our newsletter and we you will receive an update straight to your inbox.
(29 Oct 2009)
Tax Deadline: As you are more than aware, the tax return deadline of the 31st of October is fast coming upon us. For those who are registered to file and pay online, they have a little more time with their deadline of November 16th.
(12 Oct 2009)
Key Financial’s business seminar was held in the Cavan Crystal Hotel on Thursday evening last with key note speakers Jim Power and Dermot Mc Conkey. The event was a resounding success with attendees coming from businesses in Cavan, Monaghan, Louth and Meath.
(02 Oct 2009)
A recent report from the International Monetary Fund (IMF) have judged commercial rents in Ireland to be among the most over-valued in the world. This update was reported in the latest World Economic Outlook.