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USC Changes in Budget 2016

Posted on October 13, 2015

Changes to USC made in Budget 2016

The USC (Universal Social Charge) has been cut  in Budget 2016 –

These are the  new rates of USC  that will come into effect on January 1st 2016

Zero – if total income is  under  €13000 a year

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

1% on  all income from 0 up to  €12012

3% on earnings between  €12012 and  €18,668

5.5% on any income between   €18,668 and €70,044

8% on any income over €70,044

The mismatch between the entry threshold and the first band is strange and is not an error by the Dept of Finance. It makes the calculation slightly more complicated.

You can see what effect the new USC rules will have on your pay packet here.
USC 2016 and Net Pay

People aged  70 or more with income under €60000 will still have a  maximum rate of of 3% USC  (Even on Income over €18,668 ) .
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 3% USC
Medical Card holders with income of €60,000 or more will pay  the same rates of USC as non medical card holders.

 

USC Rates for 2015 Here

Categories: Budget 2015, Budget 2016, Universal Social Charge, USC

« Tax Return Deadline 2015
Budget 2016 Corporation Tax Changes »

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