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CSNA Budget 2020 Summary

CSNA Budget 2020 Summary

October 14th, 2019

Budget
PRSI
As set out in last years Budget, employers PRSI will go to 11.05% with effect from Jan 1st 2020. Threshold for higher rate remains the same, €386 per week. The reduced rate, currently 8.7% will increase to 8.8% in 2020.
20192020
Reduced Rate8.7%8.8%
Higher Rate10.95%11.05%


Minimum Wage

The Government announced that the NMW will only increase by 30cent per hour to €10.10 when the full extent of Brexit has been ascertained. This will not be before March 2020 (and may be later in the year).

Stamp Duty

Increased rate for non-residential property from 6% to 7.5% effective from budget night.

VRT

VRT reliefs extended for hybrids and plug-in hybrid electric vehicles (PHEV’S)

Benefit in Kind

Zero rate on electric vehicles extended 2020.

Self Employed

Earned income credit increased by €150 from €1,350 to €1,500.

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