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Finance Act 2005

Chapter 2

Income Tax

Amendment of section 15 (rate of charge) of Principal Act.

2.—As respects the year of assessment 2005 and subsequent years of assessment, section 15 of the Principal Act is amended—

(a) by substituting “€20,400” for “€19,000” (inserted by the Finance Act 2002 ) in subsection (3), and

(b) by substituting the following Table for the Table (as so inserted) to that section:

“TABLE

PART 1

 

Part of taxable income

Rate of tax

Description of rate

(1)

(2)

(3)

The first €29,400

20 per cent

the standard rate

The remainder

42 per cent

the higher rate

 

PART 2

 

Part of taxable income

Rate of tax

Description of rate

(1)

(2)

(3)

The first €33,400

20 per cent

the standard rate

The remainder

42 per cent

the higher rate

 

PART 3

 

Part of taxable income

Rate of tax

Description of rate

(1)

(2)

(3)

The first €38,400

20 per cent

the standard rate

The remainder

42 per cent

he higher rate

”.