Budget 2023

Taxation & Business Supports

• Standard Rate tax band of 20%, to increase by €3,200 from €36,800 to €40,000.
• Personal tax credit will rise from €1,700 to €1,775.
• Employee tax credit and the Earned Income Tax Credit will also increase from €1,700 to €1,775.
• The 2nd USC band increases from €20,687 to €22,920 due to the increase in the minimum wage.
• Small benefit exemption will rise from €500 to €1,000. In addition, two vouchers can be given under the exemption in this tax year if an employer wishes to do so.
• Personal tax credits for carers will also increase by €100, from €1,600 to €1,700
• Under Business Energy Support Scheme (BESS), businesses can avail of grants up to €10,000 p.m., per premises to help with their energy costs, subject to meeting certain criteria

Click here to Download OSK Budget 2023 PDF

Contact OSK Tax Advisers for further details of Budget 2023 or our tax services.