A new raft of measures introduced in last October’s Budget kicked in at midnight last night.
These are:
Changed USC rates
The 7% rate has been reduced to 5.5%, and the 3.5% and 1.5% rates have been reduced by 0.5%.
The thresholds have also been amended. The entry point for those who have to pay the charge has risen from €12,012 to €13,000.
Respite care grant
The respite care grant has been restored to its previous level of €1,700.
Child Benefit and Old Age Pension
From January, child benefit has been increased by €5, thus restoring it to its pre-2012 rate of €140. €3 a week have also been added to the old-age pension.
Minimum wage
The minimum wage has risen from €8.65 to €9.15 per hour.
Scrapping of pension fund levy
The pension fund levy of 0.15% will no longer apply from today.
New ATM withdrawal fee
From midnight, a new 12 cent fee per ATM withdrawal applies. At the same time, the total annual fee per card is being capped at €2.50 on ATM cards and €5 on combined (ATM and debit) cards.
Motor tax rates
All vehicles over 4,000 kilos have seen their motor tax reduced. New rates of €500 for vehicles weighing up to 12,000 kilos, and €900 for vehicles over 12,000 kilos, have been introduced.