IF YOU LIVE at home, have no dependants, don’t pay a trade union subscription or drive a car, aren’t entitled to any reliefs, smoke or drink as much as you like, and are earning exactly €26,001, then we’ve got good news for you: you’re part of a highly select group of people who’s actually going to be better off after the Budget.
Because of the introduction of the universal social charge and the way in the old system PRSI kicked in suddenly on all income over €26,000, you’ll now be €61 better off per annum than you were before the Budget that’s been called the most austere in history.
According to Lesley Cleary of taxcalc.ie who brought the situation to TheJournal.ie’s attention, “it’s a reversal of the previous PRSI anomaly where people on that income level were worse off for working more.”
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