Readers like you keep news free for everyone.
More than 5,000 readers have already pitched in to keep free access to The Journal.
For the price of one cup of coffee each week you can help keep paywalls away.
Readers like you keep news free for everyone.
More than 5,000 readers have already pitched in to keep free access to The Journal.
For the price of one cup of coffee each week you can help keep paywalls away.
THE CUTS TO the rate of universal social charge brought good news for taxpayers around the country.
Across the board there was a drop in the amount being taken out of pay packets at the end of the month.
The 7% rate dropped to 5.5%, the 3.5% rate dropped to 3% and the 1.5% rate dropped to 1%.
An 8% rate remains in place.
Alongside this the government announced that its long-term plan centres on the abolition of the charge – with Enda Kenny saying that doing so would create 200,000 jobs.
However, before this happens, they can still look forward to it returning a healthy yield next year.
In total the charge is forecasted to bring in €4 billion for the government.
Here is how much workers in each bracket will be putting into the pot:
There is also an 11% rate that is applied to self-employed people with an income in excess of €100,000.
These figures were given by Finance Minister Michael Noonan in response to a recent parliamentary question from Fianna Fáil’s spokesperson for finance.
To embed this post, copy the code below on your site