There were a few changes to Income Tax and USC in Budget 2015 (USC Details Here) . These changes came into effect on Janaury 1st – which should mean that most workers will end up with a bit more money to take home each month in 2015.
Here are some figures showing how much extra you can expect to see in your take home pay each month in 2015 compared to 2014.
Annual Sal Net 2014 Net 2015 Monthly Inc
€20,000 17,1781 17,955 €14
€25000 21,231 21,405 €15
€30,000 24,681 24,855 €14
€40,000 30,069 30,515 €37
€50,000 34,869 35,415 €45
The changes for couples with one earner are similar – with net monthly pay increasing by €13 for all incomes between €20,000 and €35,000. Someone on €45k will see an increase of €34.66 a month and anyone on €70k or more will take home €56.33 more each month
No household will gain any more than €64.75 a month – that is the biggest net pay increase for both single people and couples.
There is also the €5 increase a month to Child Benefit – which will increase net income for many households too – (after several years of cuts).