Recent Tax Announcements by the Government

July 17, 2014

With the recent change in the leadership of the Labour Party, the Government published a Statement of Government Priorities 2014 -2016.  The tax measures referred to in that document are as follows:

• Commitment to reduce the marginal rate of tax on low and middle- income earners commencing in Budget 2015 (due October 2014) and to be continued in subsequent budgets.

• Confirmation that local authorities will retain 80% of the proceeds of local property tax from 2015.

• Confirmation that local authorities have the power to alter the local property tax rate by up to 15% (upwards or downwards).