The Finance Bill 2024 published today and it includes a number of proposed pension changes: Proposed Pension Changes: PRSAs A new “employer limit” will apply to employer contributions to an employee’s PRSA. The employer limit has been defined as 100% of an employee’s total income. Employers will only be entitled to claim tax relief on
The financial position for Government in framing the budget was exceptionally strong. A surplus of €25 billion is projected for 2024. At its disposal the Government had €14.1 billion from the Apple Tax ruling; €3.1 billion from the sale of AIB shares; and a €1.5 billion surplus in the National Training Fund. In framing Budget
Finance Minister Jack Chambers is set to significantly increase the threshold for tax relief on pensions. There is currently a threshold of €2m on the overall value of a pension fund that a person can get tax relief on. Mr Chambers has received Cabinet approval to increase this by €200,000 annually for every year up
The new president of the Irish Tax Institute has described Revenue’s Enhanced Reporting Requirements (ERR) regime as “counter-productive”. The new rules require employers to report tax-free employee benefits in real-time, meaning on or before the time they are awarded to their staff. Speaking at the institute’s annual general meeting yesterday, Aoife Lavan said there was
Nothing in his early life suggested that Daniel Kahneman, who died last week at the age of 90, would eventually win a Nobel Prize in economics. To start, the 2002 Nobel laureate was trained in another subject. His PhD dissertation, in psychology, analysed a ratings scale called the semantic differential. That measure helps researchers, such as product
Mortgage holders can expect a string of interest rate cuts as falling inflation across Europe should offer relief on monthly repayments. People on tracker mortgages are in line for two interest rate cuts in the next three weeks. Falling inflation across the eurozone means the European Central Bank (ECB) is on course to cut its
Decisions, decisions. While next October’s budget is unlikely to be at the top of new Taoiseach Simon Harris’s inbox just now, in time there will be plenty of choices to consider in conjunction with Minister for Finance Michael McGrath. With a general election looming, Fine Gael’s new leader will want to take advantage of whatever
UK digital bank has experienced lower staff attrition and sickness since making change in 2021 The boss of UK digital bank Atom has said that implementing a four-day week has been “considerably less challenging” than navigating the rise of remote working, as the business posted its first annual pretax profit. The bank, which in 2021
Men are putting more money into their pensions than women, according to 93pc of financial advisers questioned for a new survey. Over two thirds of the advisers said that men are saving “way more” than their female co-workers. The findings are further evidence of the gender pension gap, with women being generally less financially prepared
The legislation providing for Jobseekers’ Benefit payments linked to work history will be brought before the Dáil by Social Protection Minister Heather Humphreys this week. Jobseeker’s Pay-Related Benefit will bring Ireland in line with other EU countries, a statement from the Department of Social Protection said, “and will ensure that people with a strong work
