Finance Minister Paschal Donohoe
Fiona Reddan, in The Irish Times, reports:
On the back of rising incomes, Revenue estimates that more than 28,000 earners will start paying income tax, at the standard rate of 20 per cent, for the first time in January 2020, unless Mr Donohoe widens the bands on October 8th.
Similarly, a further 26,800 taxpayers would be pushed into the 40 per cent tax bracket next year, unless bands are similarly widened. This would result in an increase in the proportion of taxpayers paying tax at the higher rate, up from 21 per cent in 2019 to 22 per cent in 2020.
…On the USC, Revenue estimates suggest that 18,700 people would pay the top rate of 8 per cent next year, while 39,300 would be pushed from the 2 per cent rate to the 4.5 per cent rate. In addition, some 1,100 taxpayers will start paying USC for the first time.