Average family’s net income is down €613

THE annual take-home pay of the average family has plummeted by €613 in the past three years and many are now close to a “tipping point”, taxation experts have warned.

The Irish Taxation Institute also claims the Government’s continuing reliance on imposing more tax increases on the falling number of people at work was unsustainable.

The institute said that income tax rises, new levies, child benefit cuts, health insurance hikes and the abolition of childcare supplements have all hit households hard and dramatically impacted on their ability to take any more financial pain.