Budget summary 2016

Personal tax Tax rates and bands No changes to income tax rates or bands. USC bands and rates Favorable adjustments to the lower USC bands and rates. Rates reduced to 1%, 3% and 5.5% with some adjustments to the bands. The rate of 8% for income over €70,044 and the 11% rate for relevant income over €100,000 remain unchanged. Entry threshold for USC increased from €12,012 to €13,000 i.e. where income is less than €13,000 it is exempt from USC. PRSI A tapered PRSI credit (maximum level of €12 per week) for employees insured at Class A who earn between €352.01 and €424 in a week. Lower Continue reading »

Posted on October 16,2015 by sherlock-hamilton