Budget 2027 – What It Means For You

Higher (40%) tax rate now starts at €46,500 (up €2,500 from €44,000)

What it means: More of your salary is taxed at 20%. A single worker earning above €46,500 saves up to about €500 a year; working couples up to around €1,500.

Personal, Employee (PAYE) and Earned Income tax credits up €125 each

What it means: Every worker pays €125 less tax per year, even on lower salaries.

Home Carer tax credit up €100

What it means: Extra relief for households where one partner cares for family at home.

National Minimum Wage rises about 7% to €14.94 per hour

What it means: A full-time minimum wage worker (39 hrs) earns roughly €80 more per week before tax.

Rent Tax Credit increased by €150

What it means: If you rent privately and are registered with the RTB, claim it through Revenue myAccount – couples can claim double.

Help to Buy for first-time buyers increased by €5,000 to up to €35,000

What it means: More towards your deposit on a new-build or self-build home.

Maximum childcare fees cut from €735 to €550 a month

What it means: Saves families paying the maximum fee up to €2,220 a year, for children up to senior infants at registered providers.

Child Support Payment (with social welfare) up €6 per week per child

What it means: Extra help for families on welfare payments. Child Benefit itself is not changing.

Working Family Payment income limits up €30 a week

What it means: More low-paid working families will now qualify.

Childcare services income tax relief exemption raised by €5,000 to €20,000

What it means: Childminders minding children in their own home can earn more tax-free.

Student contribution fee cut by €150 – permanently set at €2,350 a year

What it means: Cheaper undergraduate fees for eligible (EU/free fees) students.

Carbon tax on home heating oil cut – and frozen for the lifetime of this Government

What it means: Around €50 cheaper on a full tank of home heating oil.

Restoration of petrol and diesel excise postponed (reported to March 2027)

What it means: Fuel prices at the pump stay lower for longer.

Fuel Allowance up €5 per week

What it means: More heating help this winter for those who qualify.

Cigarettes rise – a pack of 20 hits about €20

What it means: Higher cost for smokers.

State Pension and most weekly welfare payments up €10

What it means: Includes Jobseeker's, Disability Allowance, Carer's Allowance and more, with proportional increases for qualified adults.

Christmas Bonus (double payment) paid again

What it means: An extra week's payment for long-term welfare recipients in December.

New €500 Cost of Disability payment

What it means: For about 238,000 people on long-term disability payments. A permanent payment is being designed for 2028.

Living Alone Allowance up €3 a week

What it means: For about 260,000 older people and others who live alone.

CE, Tús and Rural Social Scheme top-up up €2.50 to €35 a week

What it means: More for people on employment schemes.

New personal investment savings account

What it means: Tax-free on the first €50,000; a flat 1% yearly tax on value above that. Save up to €12,000 a year, no minimum.

Capital Gains Tax cut from 33% to 31%

What it means: Less tax when you sell shares, a second property or other assets at a profit.

Inheritance tax-free limit (parent to child) reported to rise by €20,000 to €420,000

What it means: Children can inherit more before paying tax.