Scenario:
Work pension = 11k
State pension = 248.30 pw = 12,911 pa
Combined pension income = 23.9k approx.
Is USC payable on this?
I am getting confused between gross and total incomes in the descriptions below.
[broken link removed]
What is USC?
USC is a tax payable on your total income. Total income for USC purposes includes things such as:
There is no relief from USC for employee pension contributions.
If your total income exceeds €13,000 you pay USC on your full income.
Does the 13k exemption limit refer to total income, or income excl State pension?
Work pension = 11k
State pension = 248.30 pw = 12,911 pa
Combined pension income = 23.9k approx.
Is USC payable on this?
I am getting confused between gross and total incomes in the descriptions below.
[broken link removed]
What is USC?
USC is a tax payable on your total income. Total income for USC purposes includes things such as:
- employment income
- taxable employer benefits
- self-employed income
- rental income
- share option gains
- dividend income.
- payments from the Department of Employment Affairs and Social Protection (DEASP)
- deposit interest that was subjected to Deposit Interest Retention Tax.
There is no relief from USC for employee pension contributions.
If your total income exceeds €13,000 you pay USC on your full income.
Does the 13k exemption limit refer to total income, or income excl State pension?