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What Budget 2017 means for someone earning around €100,000

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NOW THAT THE weeks of leaking are over and this year’s Budget has been announced, let’s get specific about what it means for you.

If you’ve been making about €100,000 or so, here’s how things will change for you next year.

Income Tax

If you’re self-employed, the earned income tax credit is being increased by €400 to €950.

Regular income tax is being left unchanged with the people earning €100,000 paying about two-third of their income at the higher tax rate of 40%.

Saving: €400 if you’re self-employed


Changes to the bottom three rates of USC will benefit most salaried workers with the main benefit coming from the reduction in the third-highest rate.

People earning €100,000 will still pay 8% USC on almost €30,000 of their income but will benefit from a reduction in the other three rates. Last year the total was €5,542.

This is the new USC obligation for someone earning €110,000:

  • 0.5% on the first €12,012 = €60.06
  • 2.5% on up to €18,772 = €169
  • 5% on up to €70,044 = €2563.55
  • 8% on up to €100,00 = €2396.40

It means that your USC payments next year will now total about €5,189.

Saving: €353

Social Welfare

Not a taxation measure, but social welfare rates have been increased by €5 across the board. So this change will affect things like child benefit.

For a detailed and comprehensive breakdown of how the Budget will impact your individual circumstances, check out our Budget Calculator.  

Read: What Budget 2017 means for someone earning around €20,000 >

Read: What Budget 2017 means for someone earning around €30,000 >

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Rónán Duffy

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