In this Issue
Budget 2011
Income Tax Cut-off Points and Credits
Universal Social Charge
Reliefs Abolished with effect from 1 January 2011
Income Tax: Restriction of Reliefs
PRSI Changes
Tax on Savings
Corporation Tax
Property Incentive Reliefs
Capital Acquisitions Tax (CAT) & Capital Gains Tax (CGT)
Business Expansion Scheme
PM Services
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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.
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