The Government confirmed the introduction of a new 'mansion tax' that will increase stamp duty to 6% for properties valued over €1.5m, effective immediately.
In a notable change, the Motor Insurers Insolvency Compensation Fund levy will be abolished from January 1, benefiting 2.2 million policy holders with significant cost savings.
The reduction of VAT on heat pumps to 9% aims to support the National Retrofit Plan, facilitating improvements in Ireland's housing stock and promoting energy efficiency.
Mr. Chambers highlighted a row of tax adjustments including an increase in personal tax credits by €125 and a rise in the small benefits exemption scheme from €1,000 to €1,500.
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