ROI information to be aware of
An increase of €3,200 in the income tax standard rate cut off point to all earnings from €36,800 to €40,000 for single individualsand from €45,800 to €49,000 for married couples/civil partners with one earner.
An increase of €75 in the Personal Tax Credit from €1700 to €1775.
In line with the increase in the National Minimum Wage, the upper threshold for paying the 8.8% Class A rate of employer PRSI is being increased from €410 to €441 from 1 January 2023.
Other PRSI Classes – No changes
Employee PRSI – No changes
An increase of €1625 to the 2% rate band ceiling from €21,295 to €22,920.
The current reduced rate of USC for eligible medical card holders will be extended by a further year and will continue to apply for 2023 for:
Individuals aged 70 years or over whose aggregate income for the year is €60,000 or less.
Individuals aged under 70 who hold a full medical card and whose aggregate income for the year is €60,000 or less.
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