Universal Social Charge
A Universal Social Charge (USC) has been introduced to replace the income and health levies. It does not replace PRSI.
- Those with incomes not exceeding €4,004 are exempt from the USC
- For those under 70 the USC is applied as follows: First €10,036 of income is at 2%, next €5,980 is at 4% and remainder is at 7%
- For those over 70 the first €10,036 of income is at 2% and the remainder is at 4%
- There are exemptions for genuine capital allowances used in business
- There are no exemptions for pension contributions.