The current minimum wage is €8.65 per hour. On an annualised basis, this is equivalent to €17,542 assuming a 39 hour working week. I am advised by the Revenue Commissioners that the additional numbers of income earners that would be exempted from the Universal Social Charge (USC) if the existing exemption threshold of €10,036 per annum was increased to €17,542 per annum would be of the order of 296,000 by reference to 2013 incomes .
This figure is an estimate from the Revenue tax-forecasting model using actual data for the year 2010 adjusted as necessary for income and employment trends in the interim. It is, therefore, provisional and may be revised.