Taxing maternity benefit is only hurting our future
THE youth are our future. So, they might as well learn from their very first days that there is no such thing as tax-free income. That is one summation of this Government's determined move to tax maternity benefit from July 1 next, which today we learn will cost new mothers up to €2,700 from maternity payments worth some €6,800 in a tax year.
You might find our summation a little too smart. But consider a few simple facts before you decide.
Among the plethora of tough things announced on Budget Day last December was the news that maternity benefit will no longer be tax free. The national coffers will benefit from this change by €15m for this year and some €40m in a full year.