The most surprising feature of Finance Minister Michael Noonan’s budget is the hike in the Universal Social Charge for higher earners.
Many of the tax changes had been well flagged in advance – a rise in the exemption from the hated Universal Social Charge (USC) for lower earners and a cut in the top rate of tax from 40 per cent to 41 per cent.
But few expected that there would be a new rate...
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