PwC out of the traps early with budget wishlist [Video]

PwC has produced a raft of pro-enterprise suggestions for finance minister Michael McGrath in its pre-Budget 2025 submission.

Paraic Burke, tax leader at PwC Ireland, said Budget 2025 presents Government with the opportunity “to secure and embed the remarkable economic growth achieved over recent years for the benefit of future generations”.

Budget 2025 will be announced in October 2024

Burke added that more measures are needed to stimulate growth and incentivise investment into private businesses. PwC’s private business budgetwishlist suggests:• Interest earned on loans to private businesses by angel investors to be taxed at 12.5% instead of 25% currently.• Increase lifetime limit for Entrepreneurial Relief to €5m from €1m currently.• Removal of surplus cash as a non-qualifying asset in trading businesses for Capital Acquisitions Tax Business Relief purposes.• To attract and retain talent PwC proposes that where a company undertakes to rent a property to an employee that the rental income …