Budget 2019: €200 increase in earned income credit for the self-employed
Earned income credit for self-employed workers will be increased by €200 to €1,350 in Budget 2019, which still falls short of the €1,650 available to PAYE workers.
Minister for Finance Paschal Donohoe. \ Clodagh Kilcoyne
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The earned income credit for the self-employed will be increasing by €200 to €1,350.
Minister for Finance Paschal Donohoe said: "For the 150,000 self-employed workers who make up an important part of our economy, the earned income credit will be increased by a further €200 to €1,350."
Amount: €48m across all self-employed taxpayers
The increase still falls short of the €1,650 tax credit enjoyed by single PAYE workers. It also falls short of a commitment made by the Government to equal the earned income and PAYE tax credit.
The income tax band is also increased by €750 to €35,300, as the Government tries to appeal to the “squeezed middle”.
The universal social charge (USC) rates will be adjusted, with the 4.75% rate applying to middle-income earners dropping to 4.5%.
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Title: Budget 2019: €200 increase in earned income credit for the self-employed
Earned income credit for self-employed workers will be increased by €200 to €1,350 in Budget 2019, which still falls short of the €1,650 available to PAYE workers.
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The earned income credit for the self-employed will be increasing by €200 to €1,350.
Minister for Finance Paschal Donohoe said: "For the 150,000 self-employed workers who make up an important part of our economy, the earned income credit will be increased by a further €200 to €1,350."
Amount: €48m across all self-employed taxpayers
The increase still falls short of the €1,650 tax credit enjoyed by single PAYE workers. It also falls short of a commitment made by the Government to equal the earned income and PAYE tax credit.
The income tax band is also increased by €750 to €35,300, as the Government tries to appeal to the “squeezed middle”.
The universal social charge (USC) rates will be adjusted, with the 4.75% rate applying to middle-income earners dropping to 4.5%.
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