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Income tax calculator: Find out what the new Budget changes mean for you

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As it was announced in Budget 2022 that a number of changes have been made to how individuals are taxed, KPMG has developed an easy-to-use calculator to see how the changes will affect you.

The calculator, seen below, allows users to see how how the new tax implications will affect them.

The Indo Daily: Three for a Fiver - the Budget and you)

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It was announced that workers on the higher rate of income tax should be better off by around €400 a year after changes were announced in tax credits and the income tax bands.

The increase in the bands means that next year people will be able to earn €36,800 before hitting the top rate of income tax, up from €35,300.

This is due to an increase in what is called the standard rate band by €1,500.

The ceiling of the second USC band has also increased from €20k to €21k.

Check out how this will affect you by using this calculator.

The calculator is for general information purposes only and professional advice should be taken regarding your specific circumstances.

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