(Well if we all did that we probably wouldn’t be in this mess, lol)

Please see below the updates from Budget 2009

• The income levy rates will be doubled to 2%, 4% and 6%.
• The exemption threshold will be €15,028. The 4% rate will apply to income in excess of €75,036 and the 6% rate to income in excess of €174,980.
• The health levy rates will double to 4% and 5%. The entry point to the higher rate will be €75,036.
• The PRSI ceiling will be increased from €52,000 to €75,036.
• Mortgage interest relief will be discontinued for any mortgage over 7 years from 1 May.
• Diesel to increase by 5c a litre (including VAT)
• The Excise Duty on a packet of 20 cigarettes will be increased by 25 cent (including VAT)
• Early Childcare Supplement monthly payment to be halved to €41.50 per child with effect from 1 May 2009 and abolished at end-2009. It will be replaced in January 2010 with a pre-school Early Childhood and Education Scheme (ECCE) for all children between the ages of 3 years 3 months and 4 years 6 months

More in-depth details can be found at budget.gov.ie

A driver is stuck in a major traffic jam just outside Dublin on the M50 motorway.
Nothing is moving.
Suddenly a Garda knocks on the window.

The driver rolls down his window and asks, “What’s going on?”

“Pensioners have kidnapped Brian Cowen, Brian Lenihan & Mary Harney, and a bunch of Bankers.
They’re asking for a €30 million ransom, otherwise they’re going to douse them with petrol and set them on fire.
We’re going from car to car taking up a collection.”

The driver asks, “How much is everyone giving, on average?”

“About a gallon.”

Stamp Duty
The first €125,000 has no stamp duty. Anything above this and below €1million is taxed at 7%. Anything over €1million is taxed at 9%.

Vehicle Registration Tax & Motor Tax
VRT for cars registered after 1 July 2008 will be determined by CO2 emissions rather than by engine size. There will be seven new VRT rates ranging from 14% to 36%. A VRT exemption for electric cars and mopeds will be introduced from 1 January 2008. Existing incentives for hybrid cars are extended to 1 July 2008.

Motor tax is to be increased by 9.5% for smaller cars (less than 2.5 litres) and by 11% for larger cars from 1 February 2008. Motor tax will be linked to CO2 emissions from 1 July 2008.

Income Tax
The personal tax credit is to be increased by €70  to €1,830 for a single person and by €140 to €3,660 for a married couple. The employee tax credit is to be increased by €70 to €1,830. The standard rate cut-off point is being raised to €35,400 for a single person, €44,400 for a married couple with one income, and €70,800 for a married couple with two incomes.

Mortgage Interest Relief
Mortgage interest relief for first-time buyers has been increased by €2,000 to €10,000 for a single person and from €4,000 to €20,000 for a married couple or widowed person. This additional relief will be available for the first seven years for which there is an entitlement to mortgage interest relief.

Payment Cards

Stamp duty on credit cards is to be reduced from €40 to €30, on combined cards from €20 to €10, and from €10 to €5 on ATM and debit cards. The stamp duty on cheques is to be increased from 15 cent to 30 cent. Banks will be required to make a preliminary tax payment for stamp duty on financial cards.