July stimulus: Surprise tax cut and help-to-buy scheme expanded
Covid unemployment payment to be extended until April 2021 but closed to new applicants
The Government has sprung a surprise tax cut, with the main rate of VAT cut from 23 per cent to 21 per cent in the €7 billion “July Jobs” stimulus plan. The tax cut will be in place from September this year to February 2021.
The help-to-buy scheme has also been expanded with homebuyers using the programme now entitled to a tax relief of €30,000, an increase of €10,000.