Tús is regarded as income for income tax purposes; however, participants are exempt from paying the Universal Social Charge (USC). A PRSI contribution (‘A’ rate) is paid in respect of each participant by their employer and an employee PRSI contribution is only applicable when weekly earnings are over €352.00. Those earning in excess of €352.00 will pay a PRSI rate of 4% on their total income. West Cork Development Partnership will inform the Revenue Commissioners as participants commence on Tús and Revenue will then allocate the appropriate tax credits and Tax Bands in respect of each individual participant.
Participants are paid directly into their bank accounts by Electronic Funds Transfer (EFT) on a weekly basis.
