Boylan & Dodd Credits/Allowances - 2004 and 2005


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 *.

Tax Credits
  2005 2004
  € €
Single Personal Credit 1,580 1,520
Married Personal Credit 3,160 3,040
Married Home "Carer" Credit (Note 1) 770 770
Widowed Personal Credit - no children; this is in addition to the Single allowance 400 300
One Parent Families - Widowed/Lone Parents
- credit in addition to single allowance 		1,580 1,520
PAYE Credit 1,270 1,040
Dependent Relative Credit 60 60
Carer Allowance (to employ a carer for an incapacitated person)* 30,000* 30,000*
Age Credit (aged 65 or over)    

Single/Widowed

 205 205

Married

 410 410
Incapacitated Child Credit
Note: restrictions where your child has income abolished from 6/4/2001.		 1,000 500
Blind Credit    

Individual

 1,000 800

Both Spouses Blind

 2,000 1,600
Blind People - Guide Dog Allowance 825 Check with Revenue
Trades Union Credit 200 Check with Revenue
Widowed Parent Bereavement Credit (Note 2) 2,800* to 800* 2,600* to 600*


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 years 2005, they get €2,800 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.