All news by: Eoghan Bracken

Today Paschal Donohoe announced his first Budget as Minister for Finance and Public Expenditure and Reform which has been agreed with Fianna Fáil and the Independent Alliance. In addition to increased public expenditure, Budget 2018 contains a number of tax measures which leaves a little more money in everyone’s pocket.

New Civil Service mileage rates and bands came into operation on 1 April 2017. Some changes to subsistence rates also take effect from this date.

Applications from first-time homebuyers for financial support under the Government’s Help-to-Buy scheme can be submitted from this January. The measure, introduced by Minister for Finance Michael Noonan in the budget last October, will allow purchasers to claim a rebate of income tax already paid up to a maximum of €20,000, depending on the value of the property.

Minister for Finance, Michael Noonan, and Minister for Public Expenditure and Reform, Paschal Donohoe, today announced the first Budget of the minority lead Fine Gael – Independent Alliance Government. Unusually, this Budget will be passed through the Dáil with the acquiescence of Fianna Fáil, who will honour the confidence and supply agreement struck with Fine Gael earlier this year. Therefore, it is widely accepted that today's Budget has been drafted with an eye on the next General Election.

The recent Finance Act 2015 has introduced an exemption which permits a company to make tax free payments to a director of the company in respect of certain vouched (receipted) expenses of travel and subsistence incurred solely for the purpose of attending a meeting of the company.