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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