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2015 Budget for Ireland and Payroll

There were no major changes in relation to PAYE apart from the introduction of the new relief for water charges in tax credits.

 

The Tax Rate and Tax bands have changed as:

 

The tax rates and bands have changed as follows: Personal Circumstances 2015

2016

Single or Widowed or Surviving Civil Partner, without dependent children 33,800 @ 20%

Balance @ 41%

33,800 @ 20%

Balance @ 40%

Single or Widowed or Surviving Civil Partner, qualifying for

Single Person Child Carer Credit

37,800 @ 20%

Balance @ 41%

37,800 @ 20%

Balance @ 40%

Married or in a Civil Partnership, one Spouse or Civil Partner with Income 42,800 @ 20%

Balance @ 41%

42,800 @ 20%

Balance @ 40%

Married or in a Civil Partnership, both Spouses or Civil Partners with Income 42,800 @ 20%

with increase of

24,800 max.

Balance @ 41%

42,800 @ 20%

with increase of

24,800 max.

Balance @ 40%

 

The Standard Rates of USC USC Thresholds
2015 Rate 2016 Rate
Income up to €12,012.00 1.5% Income up to €12,012.00 1.0%
Income from €12,012.01 to €17,576.00 3.5% Income from €12,012.01 to €18,668.00 3.0%
Income from €17,576.01 to €70,044.00 7.0% Income from €18,668.01 to €70,044.00 5.5%
Income above  €70,044.00 8.0% Income above  €70,044.00 8.0%

 

The Reduced Rates of USC USC Thresholds
Individuals aged 70 years or over whose aggregate income for the year is €60,000 or less.

Individuals (aged under 70) who hold a full medical card whose aggregate income for the year is €60,000 or less.

2015 Rate 2016 Rate
Income up to €12,012.00 1.5% Income up to €12,012.00 1.0%
Income above €12,012.00 3.5% Income above €12,012.00 3.0%

 

For Payroll Summary of Budget 2016, please follow this link: Budget 2016 Summary issued by the Revenue Commissioners.

 

For full Budget 2016, please click here

 

Softcom does not accept any responsibility. The above is for reference ONLY. Please consult the relevant Department before making any decisions.

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