Budget 2017: Insights & Analysis

The Minister for Finance, Mr. Michael Noonan presented Budget 2017 earlier today, Tuesday 11 October 2016. Find out what it means for you and your business by downloading our Budget 2017: Insights & Analysis and our Tax Rates & Credits 2017.

The Budget 2017 is presented at a time when a minority government is delicately navigating its way through the unforeseen impact of Brexit and continuing to respond to major changes in global tax policy. 

• The Irish Government has again re-affirmed its commitment to the 12.5% corporation tax rate for trading activities.
  


• A package of incentives to Brexit-proof particular sectors of the Irish economy has been introduced, focusing on entrepreneurs by reducing the Capital Gains Tax rate to 10% on the disposal of certain business assets.
  


• A number of property based incentives to stimulate the property market have been announced, including the introduction of the Help to Buy scheme and the extension of the Home Renovation Incentive Scheme to the end of 2018.
  


• The restoration (on a phased basis) of a 100% tax deduction of the interest expense incurred on loans to acquire and/or develop residential property for residential landlords has been announced.
  


• There are welcome improvements in personal tax matters with the reduction of the Universal Social Charge rates.
  


• The Minister for Finance confirmed amendments to Section 110 Taxes Consolidation Act, 1997 will be set out in the Finance Bill.