Q: We are a married couple with two children. We are both PAYE workers and we have dividend income of €5,000. We own a house we think is worth €520,000. How will this budget affect us?
Gill & Derek- Cork.
A: Unfortunately families like yours have been hard hit in this budget. First off, your child benefit is reduced by €240 per year (€20 a month). You also face an additional PRSI charge each of €264. On top of this you will also have a PRSI charge on your dividend income of €250. Lastly, your property tax bill will be €473 for 2013 rising to €945 in 2014.
So, all told, in 2013 the budget will see you down €1491 in total. The news is worse for 2014 when you will be down by €1963.
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