There were some USC and Income Tax changes announced in Budget 2024 and they will take effect from January 1st 2024 . From January 1st 2024 there will be an increase of €2000 in the income tax standard rate cut-off point for all earners, from €40,000 to €42,000 for single individuals and from €49,000 to […]
Continue reading…
USC
USC Rates 2024
Summary of Universal Social Charge Rates in 2024 The 2011 Budget in Ireland introduced a new tax on income called the Universal Social Charge (USC) which began in January 2011. There were some small adjustments announced to the Universal Social Charge (USC) in Budget 2024 From Jan 1st 2024 the ceiling for the 2% rate […]
Continue reading…
Budget 2021: A Summary
If you are looking for information about the Budget due to be announced on Oct 12th 2021 – that will be Budget 2022.You can find more information here about Budget 2022 Summary . The 2021 Budget was announced at 1pm Tuesday 13th October 2020. A summary of the main items that will directly affect people’s […]
Continue reading…
Universal Social Charge in Ireland
See Current USC Charges Here The 2011 Budget in Ireland introduced a new tax on income called the Universal Social Charge (USC) which began in January 2011. This was the last Budget of the Fianna Fail/ Green coalition.Initially – all individuals were liable to pay the USC if their gross annual income was more than […]
Continue reading…
Taxation of the Covid Wage Subsidy
Revenue has always stated that the Covid Wage Subsidy will be subject to USC and Income Tax eventually – but not while it is being paid out. Employees will be liable for any tax on the subsidy amount by way of review at the end of the tax year. (There will also be Tax due […]
Continue reading…