Budget 2009

A

agadele

Registered User
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When is the date for the 2009 budget? Is it the same as last year 05 December?
Many thanks
 
I think income tax will remain the same. But this is a tax rise in net present value terms due to inflation.
 
joejoe said:
any preductions?

Joejoe
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Wouldn't be surprised if CGT on property went back up to 40%. Given the current state of the market it may not help the coffers so much but it might prevent the flood of property for sale turning into a tidal wave.
 
Afuera said:
Wouldn't be surprised if CGT on property went back up to 40%. Given the current state of the market it may not help the coffers so much but it might prevent the flood of property for sale turning into a tidal wave.
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BIFFO made a statement and has said that the recent cut backs are only the start, and thing are going to get alot thougher. Tax are on the way up and dole to say the same, well thats just a guess.

Joejoe
 
I expect income tax to go up by 2% top rate and 1% bottom rate. Lots of stealth taxes and increases in duty on drink, petrol to bring it in line with diesel etc. Tax bands will not be adjusted and there will be no increase in childrens allowance etc.

Things will get bad, very bad, for Ireland over the next few years.
 
Just heard on the radio the budget is being moved forward to October, had a look online looking like october 14th!
 
Afuera said:
Wouldn't be surprised if CGT on property went back up to 40%. Given the current state of the market it may not help the coffers so much but it might prevent the flood of property for sale turning into a tidal wave.
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It would certainly suit developers at the expense of private homeowners.
 
This has been changed to make it possible to increase tax (PAYE) and make changes to the calculation formula. With the system as it stood they could not make changes except to PAYE Rates and Bands, as there was no time to implement them. Also they could not lower TC/COPs, as these are implemented on a yearly basis. Lowering them would result in back tax been taken in a lump, when they changed a couple of months into the tax year. This just left changes to PRSI, which has been done before a few months into the year.

My predictions, like Macker I will eventually be right :):

PAYE
3rd Rate of Tax/Cut off point - The terminology being used will allow this :)

PRSI
Remove Employee upper earnings limit or PRSI Holiday as Charlie called it.
 
This has been changed to make it possible to increase tax (PAYE) and make changes to the calculation formula.
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Do you know this for certain, or are you guessing?
 
Bravo - The Government - at last a Bit of action, for what seemed an age their inertia was starting to scare me.. at least the gravity of the situation is being dealt with head-on - I propose an increase to 51% tax to those earning over €100,000
 
Towger said:
This has been changed to make it possible to increase tax (PAYE) and make changes to the calculation formula. With the system as it stood they could not make changes except to PAYE Rates and Bands, as there was no time to implement them. Also they could not lower TC/COPs, as these are implemented on a yearly basis. Lowering them would result in back tax been taken in a lump, when they changed a couple of months into the tax year. This just left changes to PRSI, which has been done before a few months into the year.
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All highly dubious theories. Major changes have been made to the PAYE system in the past 5-8 years, including the full adoption of the tax credit system & the adoption of the Euro, all within the previous Budget timetable. Rates and bands have also been updated annually also on this timetable.
 
ccbkd said:
Bravo - The Government - at last a Bit of action, for what seemed an age their inertia was starting to scare me.. at least the gravity of the situation is being dealt with head-on - I propose an increase to 51% tax to those earning over €100,000
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I dont agree with this at all. You shouldn't penalise those who have worked hard and have been successful. We live in a capitalist economy and risk\reward is important to it.

If taxes do need to go up then everyone should be affected.
 
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