Wednesday, 2 October 2019

Questions (115)

Robert Troy


115. Deputy Robert Troy asked the Minister for Finance the estimated first and full-year cost of a proposal by an organisation (details supplied); and the estimated number of persons that are liable to the levy in question. [40105/19]

View answer

Written answers (Question to Finance)

I am advised by Revenue that approximately 25,000 taxpayer units (spouses or civil partners opting for joint assessment are counted as one unit) are liable to the 3% USC (Universal Social Charge) surcharge, which applies to non-PAYE income in excess of €100,000. The cost of abolishing this surcharge is estimated at €69 million in the first year and €128 million in a full year.

These estimated figures are based on projected 2020 incomes, calculated on actual data for the year 2017, and may be revised when more recent data become available. The estimates do not account for any behavioural effects that might result from the proposal.