As we head into the new tax year, 2023, there are many changes that are coming in to effect as a result of Budget 2023. It is important that, you as an employer be aware of these changes from a Revenue perspective and an employee rights perspective as a number of them will affect all employers in some way. Please familiarise yourself with the changes and contact us if you require more information. Below is a brief summary of some of the changes.
USC Changes:
| Rate Bands | Rate |
| Up to €12,012 | 0.5% |
| Next €10,908 | 2% |
| Next €47,124 | 4.5% |
| Balance | 8% |
PRSI Changes:
Weekly threshold for higher rate of ER PRSI under class A increased from €410 to €441 from 1st January 2023
Minimum Wage:
The national minimum hourly rate will become €11.30 on 1st January 2023
Small Benefit Exemption:
From 2022
To discuss in confidence what the measures mean for you or your business, please contact our team outlined below, or your usual RBK contact.
Return to Budget 2023 Update – Changes coming into effect for employers.
