The USC and Income Tax cuts announced in Budget 2018 took effect from January 1st 2018 – But just how much will your Take Home Pay Increase in 2018 ?
The changes will be so small – many people probably won’t even notice them.
Summary of Income Tax changes 2018
Here is a table with some examples of the increases in take home pay for various annual salaries
( Single Earner – Figures rounded to the nearest Euro)
It’s interesting to note that Pensions and Welfare payments will go up by €5 a week or €260 a year in March 2018
For workers , after these USC and tax changes , a single person on €25000 a year will see just a €65 annual take home pay increase.
A single working person will have to be on around €45000 a year to see an annual rise in take home pay of €260 in 2018.
More here about those €5 a week Welfare Increases in 2018