This Act aims to give effect to the measures set out in Budget 2025. The Act includes a number of tax changes that are intended to provide additional support to individuals, families and businesses while maintaining the long-term stability of the public finances. Key features of the Finance Act 2024 include a reduction of the 4% USC rate to 3% and an increase to the standard rate income tax band, as well as an increase to the rent tax credit to €1,000. The Act has also provided for a number of tax measures aimed at supporting business and investors, including capital gains tax relief for angel investors and a participation exemption for certain foreign distributions. The Act was enacted on 12 November 2024.
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