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WE’VE KNOWN FOR quite some time that the Universal Social Charge (USC) is to be cut.
Today we found out by just how much.
Finance Minister Michael Noonan announced today a range of changes to the much-disliked tax, including:
The threshold at which people will have to pay different rates of USC will also change.
An individual who is earning €32,000 per year will pay the Universal Social Charge at a rate of 1% on the first €13,000 (which comes to €130), 3% on the next €5,668 (which comes to €170.04) and 5.5% on the balance of €13,312 (which comes to €732.16). In total this person will pay €1,032.20 per year. This is a reduction of €352.
The entry point for those who have to pay the USC will rise from €12,012 to €13,000.
You do not pay the Universal Social Charge if your total income for a year does not exceed €13,000. An individual who is earning €13,100 per year will pay 1% on that €13,000 and 3% of the remaining €100.
The exemption from the top rate of USC is for medical card holders and those over 70 earning less than €60,000.
Below are the USC rates and bands BEFORE today’s Budget announcement, as a point of reference.
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USC should be abolished
Good plan.
They should wipe out PAYE as well. That one’s a right pain in the arse.
Cut the Christmas bonus for dole lifetimers only!! If you can work, and have been on the dole all your life then you should not be rewarded, that money should go to education or the disabled or somewhere where it’s badly needed, it sickens me!
NAMA to supply 20.000 houses by 2020 with 90% in Dublin. So once again this government neglects the rest of Ireland. Houses are needed everywhere.
Anyone that is working Christmas Day should not be taxed . I know there are people that could do with the bonus at Christmas but there are people that never worked a day in there life’s and they get rewarded for that. It’s all wrong . I would rather be taxed known that my money is going to a carer than to a sponger
You should undertake a Microeconomics course on Supply & Demand. There’s a lot more demand for an apartment or house in Dublin city centre/Dublin South than in towns like Ballina, Clonmel or Ennis. This is not “neglect”. If anything, this supply will reduce the rental/purchase prices in areas where it’s needed most.
Ah lad, building up a boom in one city is not going to help. Investment outside of Dublin is essential right now, industry and housing has to spread across the nation. Macroeconomic 101.
Don’t worry, it’s temporary. HAH!
20,000 houses is FA. This gov reacts rather than plans. This budget has nothing for me.
I’ve always said that…
Scrapped and refunded, absolute thievery
We don’t need any more ‘advice’ from economists – they fkud us already. Fine – pour money into Dublin housing – but only with Dublin taxpayer’s money. Why should Ballina, Clonmel or Ennis taxpayer’s contribute so ?
Dead right laziness should never be promoted or rewarded. Christmas bonus my arse!
a bonus for not working a fecking joke
@John does that mean that only Ballina etc tax money is to fund those places?? I am not from the capital but living here for many many years as its only place I can get a lot of work.. The capital needs a lot more accomodation. Its a joke paying up to 1200 for a small one bed apartment. More supply will lower the rental costs, but we need a lot more than 20000.
@Sean Duffy: If I was to stick €200 up your arse, would you bend over and accept it? With a Merry Christmas ribbon on it too.
Still not voting them back in……They are not giving us anything new……they are returning a fraction of what was taken to pay the banking bond holders.
Will never vote for them again.
Take half a million workers out of USC by raising it from 12k to 13k. Says it all really.
“The government’s overall aim is to take half a million workers out of the USC tax net altogether.”
They haven’t taken half a million out of USC, it’s just their aim.
Also, full time minimum wage is around €18k.
Exactly. That’s over a quarter of the workforce. A ‘recovery’ built on minimum wage and zero hour contracts.
This is all fantastic news.
that was @ IGT
how much are you up FC?
Jaysus Joe are you Enda in disguise?
Thomas Clarke, jamming is up a free Christmas bonus.
Thomas Clarke, jamming is up a free Christmas bonus.
WooHoo – I’m gonna be rich!
Whatever you do don’t run your figures through the online tax calculators, when you include water and property charges, it says I’m up €1 a week. I’m just glad I don’t waste that on lottery tickets.
I’ll try not let it change me.
Thanks be to Christ it’s over. How many threads on the same shite can one web site have??
@ Thomas Clarke – you’re easily pleased. You’re comment should read ‘ thanks Fine Gael – I am deluded’! Feel free to amend accordingly. Nobody else is ‘delighted’ & for good reason too. Crumbs / pittance springs to mind.
☆ I don’t see an article?
I’m going to blow the lot on a new jacket, thanks ENDA !
Better than nothing.
The continuation of what was to be a temporary tax is “better than nothing”?… Yeah……
more money in my pocket thanks to FG. I am delighted :)
More pocket money for you
If a thief, lets call him ‘Frank Grimes’, took your wallet which contained €100, then bullied you to pay him to live in your own house, and also bullied you to give him money for the water you use, but then a week later gave you back €20 from the wallet he stole, are you €20 up thanks to Frank, or are you €80 down and the rest?
Thanks FG :)
is a rise to minimum wage upcoming or can we forget it at this stage?
Any increase to the 33,800 tax band?
The even more hated and pure c untish Pension Levy remains fully in force.
Pension is being scrapped at end of his year.
The Public Sector C untish pension levy
I though the PS sector pension levy was going to be reduced as part of the pay restoration measures starting in January?
Marginally. The fact that such workers get done separately, up to €5000 PA, is a disgrace. This tax is the most vile and cruel in modern times.
My wife is PS and has to do on call work as part of her contract. She’s loses about 60% of it when you add the pension levy. It does need to be reduced.
It was said that the entry level would be increased to 13000 however when they spoke of the actual rates the 1% was applied from 12012 to 18668. Am I missing something? Was it a typo and the 12012 should have been 13000? Anyone else confused?
Feck sake people work all year and won’t be getting a bonus ! people sitting on there arse get a bonus no incentive to work
Just in time for the BEAR market…
Whoo hoo
Why are pensioners who are earning less than 13000 paying universal charge on their electricity bills
have your say