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USC Changes 2017

Posted on October 11, 2016

Decreased USC in 2017

The USC (Universal Social Charge) was cut  in Budget 2017– and one of the band limits has been raised slightly to keep minimum wage workers out of that band. (18668 increased to 18772)

These are the  new rates of USC  that will come into effect on January 1st 2017

Zero – if total income is  under  €13000 a year

For people with income of  €13000 or more the rates will be :

0.5% on  all income from 0 up to  €12012 (cut from 1%)

2.5% on earnings between  €12012 and  €18,772 (cut from 3%)

5% on any income between   €18,772 and €70,044 (cut from 5.5%)

8% on any income over €70,044

The changes will mean that people earning between 18,772 and 70,044 will see an decrease of 0.5% in their USC deductions. This will mean just an extra €2 a week take home pay for someone on €25k a year,  or an extra €5 a week for someone earning €55k a year.

Someone on the minimum wage will only see an increase in take home pay of €5.42 a week when the min wage goes up to €9.25. Some more examples here

People aged  70 or more with income under €60,000 will still pay a  maximum rate of of 2.5% USC  (Even on Income over €18,772 ) .
Over 70′s with income over €60,000 will still pay  the same rates of USC as under 70’s  .

Medical card holders  with income under €60,000 also  have a top rate of 2.5% USC. Medical Card holders with income of €60,000 or more will pay  the same rates of USC as non medical card holders.

Categories: Budget 2017, Universal Social Charge, USC

« Property Tax Amounts 2017
USC 2017 – How Much of a Cut ? »

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