With the increased popularity of Sinn Féin it is timely to consider their tax proposals. These include a 48% income tax rate on income over €100,000, the introduction of a 1% wealth tax on assets over €1 million and increases in both capital gains and capital acquisitions taxes to 40%. They also propose the introduction of a 15.75% employers PRSI rate on salaries in excess of €100,000 and a reduction in interest relief for landlords from 75% to 40%. They would also restrict tax relief on pensions, section 23 relief and EII to the 20% rate.
As we know Sinn Féin oppose the property tax and water charges but would reintroduce the non-principal private residence charge at €400. They propose increasing betting taxes which they estimate would yield €114 million.