USC Rate For Medical Card holders Reduced

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The Universal Social Charge (USC) was introduced from 1 January, although the Finance Act 2011, which provides the statutory basis for the new charge, was not enacted until 31 January. All individuals are liable to pay the USC if their gross income exceeds the threshold of €4,004 p.a. (€77 per week).
On 25 January, the government announced that the Finance Bill was being amended so that Medical Card holders will only pay a 4% USC (instead of 7%) on all income above €10,036. A 2% USC will apply up to the €10,036 threshold.
This means that medical card holders will be treated in the same way as income earners over the age of 70.

Further information:

Universal Social Charge cut for medical card holders

Tags: Medical card holders, New hourly rates, Recent Payroll News, Republic of ireland, USC rate

This entry was posted on Thursday, February 3rd, 2011 at 17:46 and is filed under Republic of Ireland. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.