Tax Rates and Tax Bands.
The tax rates remain unchanged at 20% (standard rate) and 41% (higher rate). The tax bands are also unchanged.
The Tax Relief for Employing a Carer remains the same forn2010. This can be claimed at the 41%l rate up to a maximum of €50,000.
Rent Tax Relief is also unchanged. This relief is only available at the 20% rate. For under 55’s, the maximum relief is €2,000/€4,000 respectively for single/married couples. For over 55’s, the maximum relief is €4,000/€8,000 respectively for single/married couples..
Relief on service charges remains unchanged. A maximum of €400 tax relief is granted (at 20% tax rate) in 2010 for service charges paid in the year 2009.
The maximum exemption from income tax under the Rent-a-Room Scheme remains unchanged at €10,000. This applies to rent received, where a person rents out a room or rooms in their home.
The exemption limits for persons aged 65 years and over remain at €20,000 for Single/Widowed & €40,000 for Married Couples
Medical expenses relief remains at the standard rate for expenses incurred from 1 January 2009. There is an exception for nursing home expenses, which continue to attract relief at the high rate.
The Income Levy rates and thresholds for 2010 are:
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