Peadar Tóibín
Question:67. Deputy Peadar Tóibín asked the Minister for Finance the first-year and full-year cost of exempting income earners at or below €19,572 from the universal social charge. [40854/15]
View answerWednesday, 18 November 2015
Questions (67)
Written answers
I am advised by the Revenue Commissioners that, on the basis of the Universal Social Charge (USC) rates and bands proposed in Budget 2016, the estimated first and full year cost of increasing the USC exemption threshold from €13,000 to €19,572 is in the order of €63 million and €87 million respectively.
These figures are estimates from the Revenue tax forecasting model using latest actual data for the year 2013, adjusted as necessary for income, self-employment and employment trends in the interim. They are estimated by reference to 2016 incomes and are provisional and may be revised.