Archive for March 2024

Just €10m has so far been paid out in mortgage interest relief under the Government scheme announced in the budget, despite €125m being allocated for it. 12,107 PAYE taxpayers have made a claim for the assistance, which is designed to help those who struggled with mortgage repayments last year because of rising interest rates. Of…

Draft legislation designed to set up the new pension auto-enrolment system has been approved by the Cabinet. If enacted, the Automatic Enrolment Retirement Savings System Bill will result in up to 800,000 private sector workers, who currently do not have a pension, becoming automatically enrolled in one. The aim of the plan is to extend…

Inflation in Ireland has fallen significantly in recent months, but a number of cost increases will weigh on consumers from next Monday. From midnight on 1 April, the cost of petrol, diesel and marked fuel oil (green diesel) will rise. It is the latest step by Government to restore excise rates to the levels they…

In today’s environmentally conscious world, KAAS know that businesses are increasingly expected to demonstrate a commitment to sustainability. Eco-friendly accounting emerges as a critical component of this commitment, offering a pathway to integrate sustainable practices into the very fabric of financial management. This innovative approach not only contributes to environmental preservation but also aligns with…

The Minister for Social Protection will seek Cabinet approval today for draft legislation designed to set up the new pension auto-enrolment system. If enacted, the Automatic Enrolment Retirement Savings System Bill will result in up to 800,000 private sector workers, who currently do not have a pension, becoming automatically enrolled in one. The aim of…

Mortgage approvals for first-time buyers hit a record annualised high in February. Figures from Banking and Payments Federation of Ireland (BPFI) show that in the year to the end of last month, first time buyers were given the green light for mortgages worth a total of almost €9 billion. During the month itself, 3,582 mortgages…

The ESRI has upgraded its outlook for economic growth this year, amid falling inflation, an expected normalisation of exports and moderate expansion of the domestic economy. In its Quarterly Economic Commentary, the institute forecasts that the domestic economy as measured by Modified Domestic Demand will grow by 2.3% in 2024, up from its prediction of…

Overall non-performing consumer loans at banks and credit unions remain near recent historical lows, despite a slight increase observed in new early arrears cases. That is according to a new analysis of the consumer credit market by the Central Bank, which also found that consumer debt servicing costs have not increased significantly since the ECB…