Budget 2012: How the higher earners are being affected

A range of tax changes will affect tax exiles and the tax treatment of pensions, as well as levying higher CAT and CGT, writes Catriona Coady of Ernst & Young.

11th December, 2011
Budget 2012: How the higher earners are being affected
People with wealth will pay their fair share of tax. Photo: Getty

While Budget 2012 is focused on raising the tax take through changes to indirect taxes rather than income tax, Minister for Finance Michael Noonan stated that this does not mean that the wealthy should not carry the principal burden of tax.

Currently there are many provisions within tax legislation to curtail the ability of high earners to significantly reduce their tax liability. The following measures announced in the budget will mostly add to the provisions by...

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