Dáil Éireann Debate, Tuesday - 22 October 2013
139. Deputy Eoghan Murphy asked the Minister for Finance the amount of revenue he anticipates the universal social charge will bring in in 2014; and if he will provide a breakdown of this figure per income earner and tax band. [44347/13]
Amharc ar fhreagraThe Universal Social Charge (USC) is collected by the Revenue Commissioners as a component of Income Tax. In Budget 2014, it is forecast that Income Tax receipts of €17,045 million will be collected in 2014 and it is expected that the yield from the USC will account for just over €4 billion of that overall forecast. I am informed by the Revenue Commissioners, that while the necessary detailed basic data is not compiled in such a manner as would enable an income distribution of expected receipts to be provided, a modelled distribution of the estimated amount of USC, due for the tax year 2014, by reference to projected incomes for 2014, has been compiled and is set out in the table below.
I am also informed by the Revenue Commissioners that the figure for total USC provided in the table is a projected estimate of the total USC liability in respect of the tax year 2014 and is not intended to correspond to the cash receipts expected to be collected in the corresponding calendar year. Figures of cash receipts are subject to timing arrangements and can also be distorted by cash flow adjustments.
The figures are estimates from the Revenue tax forecasting model using actual data for the year 2011, adjusted as necessary for estimated income and employment trends in the interim.
These are, therefore, provisional and likely to be revised.
It should be noted that the numbers of income earners shown in the table counts a married couple who has elected or has been deemed to have elected for joint assessment as one tax unit, although USC is an individualised charge and as such the estimated liability is calculated on the basis of individual incomes. Income range values commence in the table at €10,036, which is the point of income at which liability to USC commences.
It should be noted that Gross Income is as defined in the Revenue Statistical Report 2011.
Projected income distribution of USC payers in 2014
|
Range of Gross Income € |
Number |
Amount of USC € |
|
10,036 – 15,000 |
139,060 |
41,097,007 |
|
15,001 – 20,000 |
166,303 |
87,741,327 |
|
20,001 – 25,000 |
183,940 |
148,647,096 |
|
25,001 – 30,000 |
171,413 |
187,947,290 |
|
30,001 – 35,000 |
155,290 |
215,240,192 |
|
35,001 – 40,000 |
140,895 |
235,330,504 |
|
40,001 – 45,000 |
116,227 |
229,404,109 |
|
45,001 – 50,000 |
94,415 |
216,052,142 |
|
50,001 – 55,000 |
78,218 |
203,539,648 |
|
55,001 – 60,000 |
62,481 |
182,019,232 |
|
60,001 – 65,000 |
52,126 |
168,361,756 |
|
65,001 – 70,000 |
45,029 |
159,733,042 |
|
70,001 – 75,000 |
37,390 |
145,017,965 |
|
75,001 – 80,000 |
30,829 |
129,559,995 |
|
80,001 – 85,000 |
25,559 |
115,971,554 |
|
85,001 – 90,000 |
21,334 |
103,900,014 |
|
90,001 – 95,000 |
17,845 |
93,008,245 |
|
95,001 – 100,000 |
15,219 |
84,478,642 |
|
100,001 – 120,000 |
41,458 |
262,270,018 |
|
120,001 – 140,000 |
22,315 |
172,009,680 |
|
140,001 – 160,000 |
12,689 |
115,244,530 |
|
160,001 – 180,000 |
8,355 |
87,421,173 |
|
180,001 – 200,000 |
5,622 |
66,289,398 |
|
200,001 – 250,000 |
8,128 |
114,085,545 |
|
250,001 – 300,000 |
4,459 |
77,737,516 |
|
300,001 – 350,000 |
2,680 |
55,541,952 |
|
350,001 – 400,000 |
1,675 |
40,409,810 |
|
400,001 – 450,000 |
1,108 |
30,238,253 |
|
450,001 – 500,000 |
787 |
24,344,035 |
|
500,001 – 750,000 |
2,036 |
80,068,423 |
|
750,001 – 1,000,000 |
703 |
39,399,770 |
|
1,000,001 – 2,000,000 |
597 |
52,504,778 |
|
Over 2,000,000 |
148 |
39,335,185 |
|
Overall Total |
1,666,331 |
4,003,949,825 |
As previously indicated the necessary detailed basic data is not compiled in such a manner to enable expected receipts to be broken down by tax band. I trust that the data broken down by income bands as shown will be of assistance to the Deputy.
