Sunday 4 December 2016

Renua promises major tax cut for self-employed

Published 12/08/2015 | 02:30

Lucinda Creighton at the launch of Renua’s policy document at Leinster House yesterday. Photo: Damien Eagers
Lucinda Creighton at the launch of Renua’s policy document at Leinster House yesterday. Photo: Damien Eagers

Renua Ireland has published a package of measures aimed at ending what it claimed is "discrimination" against small businesses and the self-employed.

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The party is seeking the abolition of the higher rate of the Universal Social Charge (USC) for the self-employed, and for small firm owners to enjoy the same tax credits as all PAYE workers.

The cost of extending the tax credits would be €290m; removing the higher rate of the USC would cost €62m.

In its policy, 'A better deal for SMEs and the self-employed', the party proposes allowing the self-employed to opt into PRSI and for Capital Gains Tax to be reduced from 33pc to 20pc.

"SMEs are the real engine for economic growth and job creation in this country and our tax policies should recognise this fact. It is time to give the self-employed and SME owners a tax break and a better deal," Ms Creighton said.

"We want to offer the self-employed the same tax credits as PAYE workers. They currently pay eight times more tax than PAYE people and we consider that to be deeply unfair and unjust."

Irish Independent

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