S.I. No. 684 of 2010.
SOCIAL WELFARE (CONSOLIDATED CONTRIBUTIONS AND INSURABILITY) (AMENDMENT) REGULATIONS 2010
(This note is not part of the Instrument and does not purport to be a legal interpretation.)
These Regulations make a number of changes to the provisions relating to PRSI contributions and contributors following on from the measures announced by the Minister for Finance in his Budget Statement of 7 December 2010—
- The abolition of PRSI relief on employee superannuation contributions in the case of reckonable earnings and reckonable income for the purposes of voluntary contributions;
- The inclusion of income from—
in the case of reckonable earnings and reckonable income for the purposes of voluntary contributions that is assessable for PRSI purposes;
a) approved profit sharing schemes,
b) approved Save-As-You-Earn schemes,
c) share awards, and
d) unapproved share option gains
- The application of a PRSI rate of 4% in the case of Modified PRSI contributors whose income exceeds €75,036 per annum;
- An increase in the floor below which self-employed contributors are excepted from liability for PRSI from €3,174 to €5,000; and
- The application of general provisions relating to the payment and collection of PRSI contributions to the new 4% contribution payable by public office holders.
All of these measures take effect from 1 January 2011.