2. Amendment of section 531AN of Principal Act (rate of charge)
(1) Section 531AN of the Principal Act is amended -
(a) in subsection (3), by substituting "€19,874" for "€19,372", and
(b) by substituting the following Table for the Table to that section:
"Table
Part 1
|
Part of aggregate income (1) |
Rate of universal social charge (2) |
|---|---|
|
The first €12,012 |
0.5 per cent |
|
The next €7,862 |
2 per cent |
|
The next €50,170 |
4.5 per cent |
|
The remainder |
8 per cent |
Part 2
|
Part of aggregate income (1) |
Rate of universal social charge (2) |
|---|---|
|
The first €12,012 |
0.5 per cent |
|
The remainder |
2 per cent". |
(2) Subsection (1) applies for the year of assessment 2019 and each subsequent year of assessment.