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Tax equalisation will benefit self-employed people and create jobs in Dublin Fingal

18/12/2015

Fine Gael TD, for Dublin Fingal, Alan Farrell, has said that new tax equalisation measures will benefit self- employed people in the North County, helping to create even more jobs.

 

“There are 323,000 self-employed people in this country, 73,600 of them in the Dublin region. The new €550 Earned Income Tax Credit will benefit many of these people when it becomes available in January. It will be available to taxpayers earning self-employed trading or professional income, and to business owners and managers who are not eligible for a PAYE credit on their salary.

 

“Fine Gael has a plan to continue supporting SMEs to grow and create jobs. We know that small and family businesses are the lifeblood of our economy and have played a crucial role in the recovery that is now well underway.

 

“The introduction of this self-employed tax credit marks a welcome start along the road to the equalisation of income tax credits between self-employed people and PAYE workers. This addresses what was an unfair treatment of self-employed people in this country. It will benefit small retailers, publicans, farmers and tradesmen in Dublin Fingal, and the wider region. If re-elected, Fine Gael has a plan to fully equalise tax credits between PAYE workers and the self-employed by 2018.

 

“Other recent measures to benefit small businesses owners in the North County include: reductions in capital gains tax relief for entrepreneurs; reduction in costs for retailers to accept card payments, saving retailers €36 million in fees per year; and the maintenance of the 9% VAT rate for the hospitality sector.

 

“In addition, employers and employees will benefit from a reduction in the general tax burden. In January, low and middle income earners will see a reduction in their USC for the second consecutive year. We have committed to abolishing the USC over the lifetime of the next Government if re-elected.

 

“Over 135,000 jobs have been created nationally since the launch of the Government’s Action Plan for Jobs in 2012.

 

“Fine Gael has a plan to keep this recovery going and to create even more employment. By contrast Fianna Fáil has yet to even come up with a jobs plan at all. Small and family businesses will play a significant role in this jobs success and it is important we continue to support them. More jobs mean increased tax revenue with which we can invest in improved public services.”