2% USC Threshold Increasing from €19,874 to €20,484

The 2% rate of USC is rising from €19,874 to €20,484 in line with the minimum wage rate increasing by 30c to €10.10 on February 1st 2020 .

To account for the increase in minimum wage, the ceiling of the 2% rate of USC (universal social charge) is also being increased.

The Department of Finance explains that this will benefit all taxpayers, as less income will be subject to the 4.5% USC rate, whilst ensuring that minimum wage workers will pay USC at a maximum rate of 2%.

More information is available on Revenue’s website.

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The Fidelia Team

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