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Financial Resolution No. 7: Income Tax

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Financial Resolution No. 7: Income Tax

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Financial Resolution No. 7: Income Tax

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Snippet Contents:

For self-employed people who would be chargeable, PRSI would apply.
Let me deal with the point that Deputy Higgins made. There are two categories subject to an exemption, one of which is a three-year deposit account. The first €480 in interest earned on the account per annum is exempt. The other category is a five-year account, in respect of which the exemption limit is €635 per annum. I suppose the interest rates on such accounts would be approximately 3%. A three-year account will earn interest of approximately 3%. Therefore, one is talking about approximately €15,000.