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Budget 2006 - summary

Click here to down load a summary of the main features of today's Budget 2006

Budget 2006 WORD Document

PDF Income and Tax payable tables

Excise Relief for Biofuels

It is planned to bring in a scheme to improve the the market share to 2% for biofuels with a five-year scheme of targeted excise relief will commence in 2006. 

This is a n opportunity for the faming community to diversify into an new profitable area that is opening up. Farmers should investigate what is coming in this area and see if they can supply the crops required.

EARLY CHILDCARE SUPPLEMENT

Effective from 1st April, a new Early Childcare Supplement is being introduced for all children less than six years of age (i.e. ceases on their sixth birthday). 

It is worth €1,000 per child, per annum. It will be in the form of a direct, non-taxable payment of €250, which will be paid every quarter in respect of each eligible child.  The first payment will be made in mid-2006 and it will cover the second quarter of 2006.

CHILDCARE WORKERS TRAINING

There will be an increase in funding for childcare training services to train more than 17,000 qualified childcare workers.   

NATIONAL CHILDCARE INVESTMENT PROGRAMME

A new Investment Programme is being introduced with the aim of funding 50,000 additional childcare places.

The new National Childcare Investment Programme will have  

  • a capital funding element with grant aid available to both private and community providers for the building or expansion of childcare facilities;
  • and a current funding element in order to assist with the staffing and other operating costs in community facilities that cannot meet the costs from fee income alone.




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Testimonials

"I run my own business and after years of struggling with a demanding home life and a hectic work schedule I reached a situation whereby I was functioning poorly with both. I’d missed a couple of VAT payments and had intended to catch up at the end of the year. I missed my own deadlines and tried again to catch-up in the following year. Business became a stressful job of ‘fire-fighting’ each day’s demands, eventually pushing the issue of outstanding taxes out of my mind as much as possible, in order to concentrate on work.

That said, you always know in the back of your mind that these things don’t just go away and that it was just a matter of time before ‘they’ catch up with you. 

After a few years of letting my compliance payments slide altogether, the Revenue made contact with me and gave me an estimate of all PAYE, VAT and tax owed over the years – which ran to over 6 figures- and they wanted the money immediately. I knew I was in big trouble and looked in the Golden pages for an accountant who could help me. The name www.fixmytax.com jumped out of the page and I made contact. I was immediately reassured that they could help me. I was asked for “every bit of paper” concerning the office and all old Revenue correspondence.

The first thing fixmytax.com was to do was make contact with the Revenue on my behalf and assure them that they were handling the situation and that the liabilities were being established, even though it would take time. That took the immediate ‘knock-at-the-door’ shock and worry out of the situation. The coming weeks were spent only dealing with fixmytax, (not the Revenue) answering the odd question by phone and filling in more information for the accountant. Even though this was routine information, I was quite reassured by the fact that they were working on the whole Revenue mess and actually sorting through it for me. This took the panic and stress out of the situation and enabled me to concentrate on work. After a few weeks, accounts and figures had been prepared, which I went over with the accountant.

The accountant had dealt with the Revenue directly on my behalf and he saved over 60% off the original tax bill.

Throughout the process, the fixmytax accountant was hugely supportive to me, dealt directly with the Revenue, reduced the original tax bill considerably and most importantly, had taken the fear out of the situation and given me peace of mind knowing that good progress was being made with the Revenue, rather than hiding from it all.

The cost? Approximately 7% of the money SAVED on the original tax bill!

My Revenue mess caused me huge amounts of anxiety all the time I did nothing to resolve it. In dealing with fixmytax, they took control of the situation and proceeded to do what had to be done. I would not hesitate to recommend them to anyone worried about any aspect of taxation and financial planning for a business.

I now have a good relationship with the Revenue, fixmytax looks after not only the basics of compliance, but also the financial planning and regularly reviews the performance of the business. My business is now stronger and more focussed that ever before simply because of the level of ongoing collaboration and support that I have with fixmytax. They are the proverbial “good accountant” that every business needs.

My most valuable lesson in dealing with fixmytax is that it is far more productive and far less stressful to get a good supportive accountant to do what they do best, leaving me free to do business. Thanks, Patrick!

Satisfied Client, name and address with firm. 

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