tintory@lemm.ee to World News@lemmy.worldEnglish · 9 months agoRishi Sunak considers tax cut for top earners after byelection defeatswww.theguardian.comexternal-linkmessage-square42fedilinkarrow-up1164arrow-down16cross-posted to: world@lemmy.worldworldnews@lemmy.ml
arrow-up1158arrow-down1external-linkRishi Sunak considers tax cut for top earners after byelection defeatswww.theguardian.comtintory@lemm.ee to World News@lemmy.worldEnglish · 9 months agomessage-square42fedilinkcross-posted to: world@lemmy.worldworldnews@lemmy.ml
minus-squareNefrayu@lemmy.worldlinkfedilinkEnglisharrow-up2·9 months agoIn Ireland it’s about 48% on everything above €40k, then 52% above €70k. That by itself could be misleading though, the overall effective tax rate for someone on €40k is 18%, around 30% at €70k. The thresholds will rise next year.
minus-squareSquizzy@lemmy.worldlinkfedilinkEnglisharrow-up2arrow-down1·9 months agoWhat is the break down of this? Is it the higher USC band? I’m not familiar with a 52% tax rate.
minus-squareNefrayu@lemmy.worldlinkfedilinkEnglisharrow-up1·9 months agoYeah after about €70k there is a higher rate of USC. The 52% includes PAYE, PRSI and USC at the highest bands for a regular employee.
In Ireland it’s about 48% on everything above €40k, then 52% above €70k.
That by itself could be misleading though, the overall effective tax rate for someone on €40k is 18%, around 30% at €70k. The thresholds will rise next year.
What is the break down of this? Is it the higher USC band? I’m not familiar with a 52% tax rate.
Yeah after about €70k there is a higher rate of USC. The 52% includes PAYE, PRSI and USC at the highest bands for a regular employee.