Budget 2012 Day 2

DAY 2 Büdget 2012 6.12.11 VAT Increase Universal Social Charge CGT & Inheritance Tax 30% Capital Gains Tax and USC exemption increased to €10,036 will remove 330,000 people from the 23% Government commits to not raise the standard Inheritance/Gift Tax (CAT) up 5% Parent to Child Group rate of VAT beyond 23% during its lifetime. 21% Generates €670m 25% threshold reduced from Tax Net €332,084 to €250,000 VAT €100 household charge introduced to fund vital local services. This will be waived if in receipt of Excise on 20 €100 1.4c increase on Petrol from Midnight 1.6c increase on Diesel from Midnight No Excise on cigarettes will be increased by 25c from midnight. alcohol - but 23% mortgage supplement. VAT rate will apply Household Charges Cigarettes & Alcohol Petrol & Diesel Me Carthy ACCoUntants #budget2012 www.mccarthyaccountants.com