Income Tax Changes Will Benefit Individuals and Families in Tipperary, Says Fine Gael Senator


Income tax changes that take effect Jan. 1 will benefit individuals and families in Tipperary in 2022, a Fine Gael senator has said.

Senator Garret Ahearn said the Fine Gael government is helping middle and middle income earners cope with the rising cost of living through income tax changes. The tax package was announced by Finance Minister Paschal Donohoe in October as part of the 2022 budget.

Senator Garret Ahearn continued, “Fine Gael is on the side of middle and middle income people who are grappling with the rising cost of living. The tax changes announced by my colleague Minister Paschal Donohoe in the budget take effect January 1 and will benefit everyone who pays income taxes, supporting the individuals and families of Tipperary.

“These are tangible changes that everyone will feel the benefit in their pocket throughout 2022. The standard rate bracket for all employees will drop from € 35,300 to € 36,800 for singles, from € 39,300 to € 40,800 for single-parent families; and from € 44,300 to € 45,800 for couples.

“There is also a € 50 increase in each of the major tax credits – personal tax credit, salary tax credit and income tax credit.

“There is also a change in the universal social charge: the ceiling of the 2% rate bracket will increase according to the increase in the national minimum wage from € 10.20 to € 10.50 per hour. This was the eighth minimum wage increase under the government’s Fine Gael, and we wanted to make sure that full-time workers benefiting from the increase stay out of USC’s top rate.

“In addition to tax changes, Fine Gael also prioritized spending measures in the 2022 budget to help fight the cost of living and improve our quality of life. We have introduced a € 5 increase in social benefits in all areas, including disability benefits, pensions and working age benefits. The fuel allowance has increased by € 5 per week and the living alone allowance has increased by € 3 per week.

“Fine Gael is committed to fighting the rising cost of living and the tax changes that take effect this week will be felt by individuals and families in Tipperary,” he added.

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