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all about timing
When are the Budget changes kicking in?
Midnight tonight or 2016? Here’s when those Budget measures will come into effect.
NOW THAT Budget 2016 has been announced, you might want to know when its measures come into effect.
Here’s when to expect the changes to kick in:
Midnight tonight
- Increase in cigarette duties
- Changes to the Employment and Investment Incentive Scheme
1 January 2016
- Lower USC rates
- Income tax changes
- Reduced capital gains tax
- Minimum wage rise
- Social welfare increases
- Scrapping of pension fund levy
- Ending of stamp duty on debit/ATM cards
- New ATM withdrawal fee
- Revised annual motor tax rates
2016
- €414 million for social housing; €17 million for emergency accommodation for the homeless
- €13.2 billion for health; €903 million for defence; €8.5 billion for education; €500 million for enterprise agencies
- Extension of free GP care for under-12s
- Recruitment of 600 new gardaí
- Creation of 2,260 new additional teaching posts
- €50 million for the 100th anniversary of the Easter Rising
- Extension of agri-tax reliefs
2016-2020
- Nama to build 20,000 social housing units over four years
- Local property tax to increase from 2017
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