Question 1

What does the Finance (No. 2) Bill 2023 do?

Accepted Answer

Increases Universal Social Charge ceiling for 2% rate by €2,840 and reduces 4.5% rate to 4%; extends reduced USC rate for medical card holders under 70 earning under €60,000 until end of 2025. Raises income tax standard rate band by €2,000 to €42,000 and increases personal tax credit by €100–€200; extends Help to Buy scheme to 31 December 2025. Introduces new landlord tax relief reducing tax on rental income by up to €600–€1,000 annually; increases R&D corporation tax credit rate from 25% to 30% and first instalment from €25,000 to €50,000.

Question 2

What stage is the Finance (No. 2) Bill 2023 at?

Accepted Answer

As of 30 Aug 2024, the Finance (No. 2) Bill 2023 is at Enacted. Once a bill passes every stage in both Houses of the Oireachtas and is signed by the President, it becomes law.

Question 3

Who introduced the Finance (No. 2) Bill 2023?

Accepted Answer

The Finance (No. 2) Bill 2023 was sponsored by Minister for Finance, and was introduced on 19 Oct 2023.

Finance (No. 2) Bill 2023

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