Monthly income 2007: €3,684
Monthly income 2013: €3,724

Jack and Bridie are married and living in Cork. They own their family home having paid off their mortgage. Jack is in his early 70s and is retired while Bridie is about to turn 70. Jack has an occupational pension of €24,000 and also receives the State Contributory Pension. Bridie is in receipt of the State Contributory Pension. They both have medical cards.

Whilst cleaning out a drawer in their home, Jack found some payslips and tax statements from 2007 and noticed how the various tax changes have affected both Bridie and himself during that period. While their rates of tax and USC have increased over the past six years, their total combined “net” monthly income in 2013 is higher than it was in 2007 due to increases in the State pension. In 2007 their net income was €3,684 while in 2013 their total net monthly income is €3,724, a net monthly increase of €40.