Questions and Answers
What does Budget 2023 mean for me?
Sean and Lisa are both employed earning €90,000 and have 3 young children. They also rent their home. What does Budget 2023 mean for them?
- This is made up of €1,100 from the increase to the standard rate tax band.
- They will save an additional €300 due to increases to the personal credit and employee tax credit.
- They will save an additional €1,000 in 2023 with the rent credit (where they both make a claim).
- There is a small saving of €60 from operational tweaks to the Universal Social Contribution.
- Further, they will be entitled to a double child benefit payment in winter 2022.
- They will recieve three €200 credits towards energy bills in December, January & February.
Date published 27 Sep 2022 | Last updated 27 Sep 2022This article is intended to inform rather than advise and is based on legislation and practice at the time. Taxpayer’s circumstances do vary and if you feel that the information provided is beneficial it is important that you contact us before implementation. If you take, or do not take action as a result of reading this article, before receiving our written endorsement, we will accept no responsibility for any financial loss incurred.
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