The Budget 2022: What You Need to Know
The 2022 budget was released this week which aims to explain how money will be raised and spent in 2022. The budget saw some important changes across a variety of sectors with some important ones for employers to know which is why we have summarised them for you below so you don't miss out!
- The National Minimum Wage
The NMW will rise by 30 cent to €10.50 per hour
- Family
Maternity benefit and parental leave payments to be increased
Parent's Benefit extended by 2 weeks to 7 weeks from July next year
- Covid Supports
The employment Wage Subsidy Scheme will remain in place, in a graduated format, until 30 April, 2022 - the scheme will close to new employers from 1 January, 2022
- Working from Home & Income Tax
People who work remotely will see an income tax deduction of 30% of the cost of vouched expenses for heat, electricity and broadband. In his Budget speech, the Minister for Finance said Government policy is to facilitate and support remote work.
If you would like to read some more detailed information and analysis, or even read the Ministers’ Budget day speeches to the Dáil, visit http://gov.ie/budget to find out more.
Related Articles:
- Key Features: Updates to the Work Safely Protocol
- The Essential Elements of a Hybrid Working Policy
