3. Amendment of section 15 of Principal Act (rate of charge)
As respects the year of assessment 2019 and subsequent years of assessment section 15 of the Principal Act is amended -
(a) in subsection (3)(i), by substituting "€26,300" for "€25,550", and
(b) by substituting the following Table for the Table to that section:
"Table
Part 1
|
Part of taxable income (1) |
Rate of tax (2) |
Description of rate (3) |
|---|---|---|
|
The first €35,300 |
20 per cent |
the standard rate |
|
The remainder |
40 per cent |
the higher rate |
Part 2
|
Part of taxable income (1) |
Rate of tax (2) |
Description of rate (3) |
|---|---|---|
|
The first €39,300 |
20 per cent |
the standard rate |
|
The remainder |
40 per cent |
the higher rate |