The higher tax rate of 41% will be reduced to 40%.

PRSI
The 4% PRSI rate will apply to all taxpayers under 66 years of age.
Universal Social Charge (USC)

Medical card holders and those aged over 70 years whose aggregate income is €60,000 or less will pay a maximum rate of 3.5%.  The normal rates of USC applies to those aged 70 years and over, and to medical card holders earning €60,000 and above.

An 11% rate applies to self-employed income over €100,000.

Rent-A-Room Relief

From 1 January 2015, the threshold for exempt income under the rent-a-room scheme is being increased from €10,000 to €12,000 per annum.

Home Renovation Incentive (HRI)

This incentive is being extended to include expenditure by landlords on the renovation or improvement of residential rental properties.

Water charges relief

Tax relief at 20% will be available in respect of water charges up to a maximum of €500 per annum.  The relief will be paid annually in arrears.

Artist exemption

The threshold for artists’ exemption will be increased from €10,000 to €50,000 and will apply to individuals resident or ordinarily resident in Ireland or another EU/EEA member state.

First time buyers DIRT relief

First time buyers will receive a refund of DIRT deducted on any savings used to purchase their home. The refund will apply from 14 October 2014 to 31 December 2017 in respect of savings up to a maximum of 20% of the purchase price. Presumably we will see the major financial institutions offering special accounts for this purpose.