 |
|
 |
 |
 |
|
Miscellaneous Budget Information
Service Charges
Relief on service charges remains unchanged. A maximum of €400 tax relief is granted (at 20% tax rate) in 2010 for service charges paid in the year 2009.
Rent-a-Room Scheme
The limit of the exemption from income tax, which applies to rent received, where a person rents out a room or rooms in his or her principle private residence, remains unchanged at €10,000.
From 1 January 2009, the provision of bicycles and associated safety equipment by employers to employees who agree to use the bicycles to travel to work will be treated as a tax-exempt benefit-in-kind.
This tax exemption may only apply once in every 5-year period in respect of any one employee/director. There will be a limit of €1,000 on the amount of expenditure an employer can incur in respect of any one employee/director.
The scheme may also be implemented via salary sacrifice arrangements, whereby an employee agrees to forego part of her or her salary to cover the costs associated with the purchase of the bicycle and associated safety equipment. Where such salary sacrifice arrangements are implemented they must be completed over a maximum period of 12 months.
Should you require any further information, please contact Susan Lennon.
Email: slennon@annebrady.ie
