January pay slip will have nice cash boost for Kildare people
Kildare people will see more money in their pay packets this week thanks to changes in the Budget.
Minister for Finance Jack Chambers estimated that the average worker will be €1,000 better off after Budget 2025 when income tax changes and cost-of-living payments are taken into account.
January has been a long month of scrimping and saving after the spending frenzy of Christmas.
But at least there will be a few extra euro in your wages this week.
Here's how some of the extra money will find its way into your pocket:
Taxes
Income Tax: The standard rate band increased by €2,000 to €44,000 for single individuals. This means anyone earning up to €44,000 per year will pay income tax at 20%. There is also proportionate increases for married couples and civil partners.
Universal Social Charge (USC): Reduced from 4% to 3%, reflected in your first 2025 payslip.
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Tax Credits: Personal, employee, and earned income tax credits increased by €125 to €2,000.
Small Benefit Exemption: Increased from €1,000 to €1,500 for non-cash benefits like vouchers.
In addition, the National Minimum Wage increased by 80 cents to €13.50 per hour from January 1, 2025.
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