Fran and Linda are in their early 50s and live in the Dublin suburbs. Fran has an annual salary of €150,000 and currently maximises his personal pension contributions to the 30 per cent limit. Linda works part-time as a receptionist and earns €18,000.
Linda's elderly mother lives in a nursing home. Fran and Linda pay €21,000 towards the cost of this, of which €18,000 qualifies for tax relief. They claim the dependant relative tax credit and the qualifying medical expenses for the nursing home. They are concerned that the new Minister may reduce the tax relief they can receive on this expense.
They both hope that there will be an increase in the personal tax credits and the standard tax rate band for married couples.
Fran has held significant share portfolios for the last number of years and also hopes that the Minister leaves the capital gains tax rate at 20 per cent.
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