Dáil Éireann Debate, Tuesday - 6 November 2012
251. Deputy Pearse Doherty asked the Minister for Finance the number of people who would be affected if the universal social charge threshold was changed to take all those earning below the minimum wage out of the charge. [48520/12]
Amharc ar fhreagraThe 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.
