WE are well into the new school year, and with Christmas approaching, households are facing increasing costs daily.
However, a number of Government schemes could give households a major income boost.
They allow people to save on heating, childcare, refurbishments and education.
Here we take a look at current schemes that can save you thousands.
FUEL ALLOWANCE
The Fuel Allowance will be paid to thousands of Irish households from September 23 until April in a bid to aid with the cost of heating bills.
During the 2023/2024 period for the Fuel Allowance, around 411,000 households in Ireland benefited from this scheme.
The social welfare scheme is paid in weekly instalments of €33 or can be paid in two lump sum payments of €462.
There are certain eligibility requirements for the payment for people under 70 including living alone or living with specific people or getting a qualifying means payment.
And people who are over 70 do not need to meet these criteria to qualify.
To get the Fuel Allowance, you must either live alone or with people in certain categories.
It has been reported that a Budget 2025 announcement may lower the qualifying age for the fuel allowance from 70 to 66.
CHILD BENEFIT
Parents or guardians of children under 16 can avail of the €140 payment a month for each child.
You can also get Child Benefit for children aged 16, 17 and 18 if they are in full-time education or full-time training, or have a disability and cannot support themselves.
Child benefit is usually paid on the first Tuesday of every month.
Social Protection Minister Heather Humphreys revealed that a repeat of last year’s double child benefit payment is set to be one of the main discussions ahead of the budget.
BACK TO SCHOOL
The Back to School Clothing and Footwear Allowance helps families with the cost of school uniforms and shoes of up to €285.
But the September 30 deadline to apply is fast approaching.
Parents can apply if your children are aged four to 17 on September 30 of the year of your application.
Or if they are aged 18 to 22 and returning to full-time second-level education in a recognised school or college in the autumn of the year you have applied.
Your children must be residents of Ireland.
Foster children do not qualify for the payment due to the Foster Care Allowance.
Children aged four to 11 receive a rate of payment of €160.
While those aged 12 to 22 receive a payment of €285.
CHILDCARE
The National Childcare Scheme’s subsidy, which can be used with any childcare provider who is participating and it paid directly to them, has been increased.
The minimum rate for the National Childcare Scheme subsidies increased from €1.40 to €2.14 per hour since September 2, 2024.
STATE PENSION
Available for those 66 years old and over, the state pension is not means tested.
And you can get it even if you have other income, such as an occupational pension.
It is expected that Budget 2025 will see an increase once again given to the weekly pension.
The amount given was increased by €12 last year and it has been hinted that the same could be the case this year.
HOME HELP
The Vacant Property Refurbishment Grant offers funding to help refurbish any vacant or derelict homes.
This grant can also be used to renovate any vacant and derelict properties that have not been previously listed as residential homes.
But it must be noted that this only applies if the non-residential properties were used for commercial or public use and have planning permission to now be used residentially.
The grant is given if you are refurbishing the property in order to live there or rent it out.
In this scheme, you can apply for up to €50,000 when it comes to renovating any vacant property, or €70,000 if the property is derelict.
CHRISTMAS BOOST
It has been reported that Budget 2025 will announce a cash boost in addition to lump sum payments for certain social welfare programs that will be made in October.
The Christmas Bonus is an extra payment for people who receive a long-term social welfare payment.
A senior Government source told the Irish Examiner that the cash boosts would be paid out in October after the Budget’s announcement.
STUDENT GRANTS
The Student Grant Scheme is the main financial support scheme for students studying full-time courses in Ireland and abroad.
Student Grants are set to increase by €615 for all non-adjacent rates and by 10 per cent for adjacent rates in Budget 2025.
There is also changes to the postgraduate tuition fee grant which will increase by €1,000 for students in the 2023/2024 academic year.
And students who qualify for the Free Fees Scheme will see the Student Contribution reduced by €1,000 in the 2023/2024 academic year. Those who have already paid will receive a refund.
From this month the income threshold to qualify for the 100 per cent Student Contribution will increase to €55,924.
BUDGET 2025 HINTS – WHAT WE CAN EXPECT
By ADAM HIGGINS, Political Correspondent
Taoiseach Simon Harris back in May said Ireland is not yet out of the woods when it comes to the cost-of-living crisis as he signalled there will be more one-off Budget bonuses.
He said: “In the coming Budget, we must ensure we provide the extra funding required to keep pace with the expanding population and a cost-of-living and welfare package that protects the most vulnerable.
“Income tax bands and credits must again be properly indexed so that people do not drift into the higher rate band of income tax.”
In recent years, the Government has handed out extra social welfare payments for people availing of supports.
And Harris said the Government knows that “a strong economy has to translate into tangible benefits for our people.”
He added: “Right now, I know people are still hurting.
“Cost of living increases have left them feeling their personal finances are insecure and might not withstand any further shocks. We need to give them a sense of security that the Government get this.”
Former Finance Minister Michael McGrath previously told how workers will cash in on major tax breaks as part of the Coalition’s last Budget.
Speaking at the Fianna Fail Ard Dheis in Dublin back in April, the Cork TD boasted about how this Government has reduced income taxes and cut the USC rate for the first time in five years.
He said his next Budget will target carers, pensioners, families and people with disabilities — a signal he plans to increase social welfare payments.
He also revealed Budget 2025 will include a major income tax package that will see workers keep more of their hard-earned cash.
He said: “In this autumn’s Budget, we will again have a substantial income tax package. This is vital for individuals and families, but it is also important for our economy that Ireland has a competitive personal tax system.”
