The minimum wage increase comes into effect today.
The wage has been increased by 80c to €13.50 an hour.
The increase to minimum wage was among the measures announced in Budget 2025.
Today also sees the Standard Rate Cut Off Point increase from €42,000 to €44,000 with proportionate increases for married couples and civil partners.
The main tax credits (Personal, Employee and Earned Income Credits) will increase by €125 to €2,000.
The Minister for Finance Jack Chambers said these increases now mean a single person earning €20,000 or less in 2025 will be outside of the income tax net.
2025 Changes
The Home Carer Tax Credit will increase by €150 to €1,950 and the Single Person Child Carer Credit will increase by €150 to €1,900.
The Incapacitated Child Tax Credit will increase by €300 to €3,800 and the Dependent Relative Tax Credit will increase by €60 to €305.
The Blind Person's Tax Credit will increase by €300 to €1,950.
The Universal Social Charge (USC), meanwhile, will be reduced from 4% to 3%.
Rent Tax Credits
Today also sees the Rent Tax Credit increase to €1,000 (€2,000 for jointly assessed taxpayer unit) for private tenants who do not receive State housing supports.
Last year's Rent Tax Credit has been retrospectively increased to the 2024 figure.
Taxpayers can claim this credit from Revenue.
Those who have already claimed last year's tax credit of €750 can now claim up to an additional €250 or €500 for jointly assessed taxpayer units.
Featured image: A woman's hand holds euro notes.
