Questions and Answers

Families

We are a married couple with two children. We are both PAYE workers and we have dividend income of €5,000. We own a house we think is worth €520,000. How will this budget affect us?

Unfortunately families like yours have been hard hit in this budget. First off, your child benefit is reduced by €240 per year (€20 a month). You also face an additional PRSI charge each of €264. On top of this you will also have a PRSI charge on your dividend income of €250. Lastly, your property tax bill will be €473 for 2013 rising to €945 in 2014.

So, all told, in 2013 the budget will see you down €1491 in total. The news is worse for 2014 when you will be down by €1963.

We provide accountancy advice and across the country.

Date published 21 Feb 2013

This 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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