Take-home pay will be down marginally next year despite salary increases because of changes in income tax, according to calculations by payroll company ADP.
Staff who earn some €5,000 gross a month will be €9.71 a month worse off because of changes in the upper rate tax bands. The 52% tax band will start at €54,367 next year, a cut of €409 on the 2009 limit.
People earning €1,800 gross a month will be €1.42 worse off, ADP said.
At the presentation of the government’s 2010 spending plans in September, the CPB macro-economic forecasting agency said spending power would go down across the board.
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