Wednesday 28 June 2017

And that's not all . . .

THE figures put together by the Irish Tax Institute listing the hits to households in the last four budgets do not take account of a range of other income-reducing measures.

Workers have also been pummelled by pay cuts in the private sector.

Those in the public sector have had pay cuts and have also lost out from the introduction of the pensions levy.

And pensions tax reliefs have been hit hard, along with the pensions levy on private sector pension funds and on private pensions paid to those who have retired.

Other hits to households include:

•The radical phasing out of mortgage interest relief for all but first-time buyers.

•Higher private health insurance due to government increases in the costs of private beds in state hospitals.

•Rising energy costs due to carbon tax on petrol, diesel, home-heating oil and domestic gas.

•Cuts in unemployment benefit.

•An effective halving of the tax relief for spending on doctors, consultants and medicines.

•The abolition of tax relief for those paying bin charges.

•Higher DIRT savings tax.

Irish Independent

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