Budget 2015Budget 2015

BUDGET 2015

A €1,000 increase in the entry point to the marginal rate of income tax from €32,800 to €33,800 for a single person and from €41,800 to €42,800 for a married couple with one earner. The band will increase by €2,000 for a married couple with two earners.
A 1% decrease in the marginal rate of income tax from 41% to 40%.
An increase in the USC exemption threshold from €10,036 to €12,012.
A restructuring of the USC bands and rates. This includes increases to the income thresholds, reduction of the two lower rates and a new 8% rate on income above €70,044. (details below)
New USC bands and rates
Income
%
Employee
Up to €12,012
1.5%
€12,013 to €17,576
3.5%
€17,577 to €70,O44
7%
> €70,044
8%
Self-Employed
Up to €12,012
1.5%
€12,013 to €17,576
1.5%
€17,577 to €70,044
7%
€70,045 to €100,000
8%
> €100,000
11%
The extra 3% USC for self-employed individuals earning more than €100,000 has been retained (increasing the rate from 10% to 11% for 2015). As such, the marginal rate for the self-employed remains at 55% on income above €100,000.
Medical card holders and those over 70 earning less than €60,000 will pay a maximum USC rate of 3.5%.

BUDGET 2015

A €1,000 increase in the entry point to the marginal rate of income tax from €32,800 to €33,800 for a single person and from €41,800 to €42,800 for a married couple with one earner. The band will increase by €2,000 for a married couple with two earners.
A 1% decrease in the marginal rate of income tax from 41% to 40%.
An increase in the USC exemption threshold from €10,036 to €12,012.
A restructuring of the USC bands and rates. This includes increases to the income thresholds, reduction of the two lower rates and a new 8% rate on income above €70,044. (details below)
New USC bands and rates
Income
%
Employee
Up to €12,012
1.5%
€12,013 to €17,576
3.5%
€17,577 to €70,O44
7%
> €70,044
8%
Self-Employed
Up to €12,012
1.5%
€12,013 to €17,576
1.5%
€17,577 to €70,044
7%
€70,045 to €100,000
8%
> €100,000
11%
The extra 3% USC for self-employed individuals earning more than €100,000 has been retained (increasing the rate from 10% to 11% for 2015). As such, the marginal rate for the self-employed remains at 55% on income above €100,000.
Medical card holders and those over 70 earning less than €60,000 will pay a maximum USC rate of 3.5%.

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