A number of factsheets on measures announced by the Minister for Finance as part of Budget 2014 have been published on the Department of Finance website. Revenue has also published information on the new Home Renovation Incentive announced in the Budget. The main “factsheet” is of course the Finance Bill, which was published on Thursday, 24 October. The Social Welfare Bill 2013 was also published last month (see here).

Budget 2014 Documents

The Department of Finance Budget factsheets deal with:

• Restrictions to medical insurance tax relief
• Abolition of Top Slicing Relief
• Introduction of Home Renovation Incentive
• Replacement of the “One-Parent Family Tax Credit” with a new “Single Person Child Carer Tax Credit”

Separate Budget 2014 summary documents were also published by the Department of Finance and the Revenue.

Revenue's guidance note on the new Home Renovation Incentive covers general information on the scheme, specific information for homeowners and for builders, and details on how the online system will operate. The guidance is published on the Revenue website.

If you missed our detailed coverage of Budget 2014 in our special Tax eNews which issued Budget night, visit www.charteredaccountants.ie/

Finance (No.2) Bill 2013

Finance (No.2) Bill 2013 was published last month and as has been the case in recent Finance Bills, the Bill confirms the various budgetary measures and also introduces a number of new measures. The key new measures included in the Bill are detailed in the feature article in this month's issue here. The Bill is expected to move to Committee Stage on 26 November and to Report Stage on 4 December. Finance (No.2) Act 2013 is anticipated to be enacted before Christmas.