Boylan & Dodd Credits/Allowances - 2002 and 2001


** All figures below are in Euros **

The figures below are tax credits and are deducted from your tax liability rather than reducing your income, as was the case with the old allowance system. There are still a few allowances calculated in this way; these are highlighted by an *.

The figures for 2001 are included on a full year basis for comparative purposes. 2001 was a short tax year; the actual credits for 2001 are 74% of the figures below.

Tax Credits
  2002 2001
  Euro €€€ Euro €€€
Single Personal Credit 1,520 1,397
Married Personal Credit 3,040 2,794
Married Home "Carer" Credit (Note 1) 770 762
Widowed Personal Credit - no children; this is in addition to the Single allowance 300 254
One Parent Families - Widowed/Lone Parents
- credit in addition to single allowance 		1,520 1,397
PAYE Credit 660 508
Dependent Relative Credit 60 56
Carer Allowance (to employ a carer for an incapacitated person)* 30,000* 12,700*
Age Credit (aged 65 or over)    

Single/Widowed

 205 204

Married

 410 408
Incapacitated Child Credit
Note: restrictions where your child has income abolished from 6/4/2001.		 500 408
Blind Credit    

Individual

 800 762

Both Spouses Blind

 1,600 1,524
Blind People - Guide Dog Allowance TBA TBA
Trades Union Credit
Note: For administrative purposes, the credit for 2001 will be added to the credit for 2002. 		20 20
Widowed Parent Bereavement Credit (Note 2) 2,600* to 600* 2,540* to 508*


Note 1

Spouse Carer Allowance - this allowance applies to married couples where one spouse works at home caring for a child, elderly or dependent person .

You are allowed to earn a small amount of income and keep the carer allowance. Alternatively, if it is more beneficial for you, you can ignore the home carer credit and instead transfer a portion of the low rate tax band to your spouse.



Note 2 - Widowed Parent Bereavement Allowance

Widowed parents are entitled to an additional allowance on the death of their spouse. For the tax year 2002, they get €2,600 allowable as a tax credit. This reduces in the following years by €500 per annum.

The allowance lasts for five years following the death of the spouse, on the reducing scale.

Note 3

Revenue Job Assist Scheme - An additional tax free allowance is available to people who have been unemployed for one year or more and take up employment. From 1 Jan 1999, the allowance is also available to people who have been in receipt of Disability Allowance or Blind Person's Pension for one year or more.



Please contact your tax office to obtain more details.