PRSI/Tax Reliefs

PRSI CHANGES

Abolition of the PRSI ceiling of €75,036
Class S (Self-Employed) PRSI rate increased from 3% to 4%
Modified PRSI rates (certain public servants) increased to 4% on incomes in excess of €75,036
Introduction of a 4% PRSI charge for certain Office Holders

INCOME TAX: RESTRICTION OF RELIEFS

(Income Tax/USC/PRSI) (from 1 January 2011 unless otherwise stated)
Charge to the Health and Income Levy (USC) on Approved Profit Sharing Schemes.
Charge to the Health and Income Levy (USC) on Approved Save-As-You-Earn Schemes.
Charge to the Health Levy (USC) on Unapproved Share Options.
Charge to the Health Levy (USC) on Share Awards.
Restriction of the tax-free element of ex-gratia termination payments to €200,000 so that payments above this amount will be subject to tax at the marginal rate. This change will apply with effect from 1 January 2011.
Ceiling of €40,000 on the tax exempt earnings of artists.
Introduction of a charge to PRSI on Approved Profit Sharing Schemes.
Introduction of a charge to PRSI on Approved Save-As-You-Earn Schemes.
Introduction of a charge to PRSI on Unapproved Share Options.
Introduction of a charge to PRSI on Share Awards