Budget 2022 Changes
There are a couple of changes announced in the 2022 Budget that will affect payroll. Here at Buddy, we automatically update the software, however here are some changes to payroll which you might be interested in:
- COLA of €1.75 per week for full-time employees (see: Adding the Annual Cost of Living Adjustment (COLA))
- Part-Time Qualified Tax has been lowered from 15% to 10%
- Overtime for eligible employees is now taxed at 15% for the first €10,000 (instead of only in the first 100 hours)
- Part-time employees can pay Social Security Contributions from more than one employment, for work of up to 40 hours per week
Yearly Changes
Apart from these changes, Buddy also has applied other general changes
- Vacation Leave for standard full-time employees in 2022 is of 224 hours (192 hours + 24 hours in-lieu of 4 public holidays).
- Social Security and Sickness/Injury Benefit Rates are updated accordingly