Dáil Éireann Debate, Thursday - 17 July 2014
101. Deputy Michael McGrath asked the Minister for Finance the revenue that would be foregone by amending the universal social charge to raise the threshold for the 2% rate to €12,000, €15,000 and €17,500, respectively. [32443/14]
View answerI am advised by the Revenue Commissioners that the full year cost, estimated by reference to 2014 incomes, of increasing the 2% USC rate threshold to €12,000, €15,000 and €17,500 is tentatively estimated to be of the order of €189 million, €465 million and €685 million, respectively.
These figures are estimates for 2014 incomes from the Revenue tax forecasting model using latest actual data for the year 2011, adjusted as necessary for income, self-employment and employment trends in the interim. They are provisional and may be revised. Married persons or civil partners who have elected or have been deemed to have elected for joint assessment are counted as one tax unit.
