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USC Rates after Budget 2018

Posted on February 1, 2018

Budget 2018 USC Reductions

As expected there were some adjustments to the Universal Social Charge (USC) in Budget 2018 .

These new reduced USC rates and bands apply from Jan 1st 2018

The 2.5% rate of USC will be reduced to 2% and the threshold for this level of USC will rise from €18772 to €19372

The 5% rate of USC will drop to 4.75%

(People with Income under €13000 are exempt)

USC Rates for 2018

  • €0 to €12012  = 0.5%
  • €12010 to €19372  = 2%
  • €19372 to €70044 = 4.75%
  • over €70004 = 8%

For a single earner on €35000 a year – these changes will see a fall in USC of just €90 a year – or €1.73 a week.
A higher earner on €75000 a year will see a USC cut of €178 a year or €3.42 a week.

 

The USC relief for medical card holders is being extended for a
further two years  . Medical card holders and people aged 70 years and older whose  income does not exceed €60,000 will now pay a maximum USC rate of 2%

Categories: Budget 2018, Universal Social Charge, USC

Tags: Budget 2018, usc

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