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Budget 2015 – USC Changes

Posted on October 14, 2014 2 Comments

Changes to USC made in Budget 2015

USC (Universal Social Charge) was amended in Budget 2015 – it was decreased for lower income levels  and increased for higher income bands.

These are the  new rates of USC  that came into effect on January 1st 2015

Zero if total income is  under  €12,012 a year

For people with income of  €12,012 or more the rates will be :

1.5% on  all income from 0 up to  €12,012

3.5% on earnings between  €12,012 and  €17,576

7% on any income between   €17,577 and €70,043

8% on any income over €70,044

Note A rate of 11% USC will apply to self employed earnings over €100,000

People aged  70 or more with income under €60000 will have a  maximum rate of of 3.5% USC  (Even on Income over €17,577 ) .
Over 70′s with income over €60,000 will pay  the same rates of USC as under 70’s  .

Medical card holders  with income under €60,000 also  have a top rate of 3.5% USC .
Medical Card holders with income of €60,000 or more will pay  the same rates of USC as non medical card holders.

Example:  2015

A person  earning €50,000 per year will pay the Universal Social Charge at a rate of 1.5% on the first €12012 (which comes to €180.18), 3.5% on the next €5,980 (which comes to €194.74) and 7% on the balance of €32424 (which comes to €2,270). In total this person will pay €2,645  USC per year.

USC Rates for 2013 Here

Categories: Budget 2015, Universal Social Charge, USC

2 thoughts on “Budget 2015 – USC Changes”

  1. jerry lavery on October 18, 2014 at 14:37 said:

    i say that the €12012 cut off should apply to all earners regardless of income.this is a punative tax and should be abolished in any case as we now have property tax and water charges.iwill give an appropiate response in the 2016 general election.

  2. Maire on October 19, 2014 at 17:21 said:

    I am a retired civil servantt single with pension of €27400 and it looks like I will get an extra euro a week from USC no extra tax relief so this Goverment has done nothing for me !

Comments are closed.

« Budget 2015 : Water Charges and more Leaks
Universal Social Charge – How Much Will You Pay in 2015 »

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