Written answers
Tuesday, 15 May 2018
Department of Finance
Universal Social Charge Yield
Pearse Doherty (Donegal, Sinn Fein)
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177. To ask the Minister for Finance the estimated revenue that would be raised from the introduction of an additional USC rate (details supplied) on a person’s income in excess of €100,000. [21204/18]
Pearse Doherty (Donegal, Sinn Fein)
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178. To ask the Minister for Finance the estimated revenue that would be raised for the Exchequer from the introduction of an additional USC rate (details supplied) on a person’s income in excess of €120,000. [21205/18]
Pearse Doherty (Donegal, Sinn Fein)
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179. To ask the Minister for Finance the estimated revenue that would be raised from the introduction of an additional USC rate (details supplied) on a person’s income in excess of €140,000. [21206/18]
Pearse Doherty (Donegal, Sinn Fein)
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180. To ask the Minister for Finance the estimated revenue that would be raised for the Exchequer from the introduction of an additional USC rate (details supplied) on a person’s income in excess of €150,000. [21207/18]
Paschal Donohoe (Dublin Central, Fine Gael)
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I propose to take Questions Nos. 177 to 180, inclusive, together.
I am advised by Revenue that the estimated yield from the introduction of an additional rate of USC at the range of rates and the levels of income as set out by the Deputy are provided in the following tables:
| Incomes greater than €100,000 subject to an additional USC rate of: | First Year €m | Full Year €m | Incomes greater than €120,000 subject to an additional USC rate of: | First Year €m | Full Year €m | |
|---|---|---|---|---|---|---|
| 1% | 95 | 127 | 1% | 80 | 109 | |
| 2% | 189 | 254 | 2% | 160 | 218 | |
| 3% | 284 | 381 | 3% | 239 | 327 | |
| 4% | 378 | 508 | 4% | 319 | 436 | |
| 5% | 473 | 635 | 5% | 399 | 545 | |
| 6% | 568 | 762 | 6% | 479 | 654 | |
| 7% | 662 | 889 | 7% | 559 | 763 |
| Incomes greater than €140,000 subject to an additional USC rate of: | First Year €m | Full Year €m | Incomes greater than €150,000 subject to an additional USC rate of: | First Year €m | Full Year €m | |
|---|---|---|---|---|---|---|
| 1% | 70 | 96 | 1% | 66 | 91 | |
| 2% | 139 | 193 | 2% | 131 | 183 | |
| 3% | 209 | 289 | 3% | 197 | 274 | |
| 4% | 278 | 386 | 4% | 262 | 365 | |
| 5% | 348 | 482 | 5% | 328 | 457 | |
| 6% | 418 | 578 | 6% | 394 | 548 | |
| 7% | 487 | 675 | 7% | 459 | 640 |
These estimates have been generated by reference to 2018 incomes as calculated on the basis of actual data for the year 2015, the latest year for which returns are available, adjusted as necessary for income, self-employment and employment trends in the interim. The estimates are provisional and may be revised. These estimates assume the retention of the current 3% surcharge for Schedule D taxpayers on incomes in excess of €100,000.
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