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minimum wage and tax

  • 01-03-2012 12:56am
    #1
    shady_lady
    Closed Accounts Posts: 4 ✭


    Hi.

    Just looking for some advice/answers,im starting a full time job (39ish hours per week)soon on minimum wage
    and would like to know basically what my take home pay will be after all deductions like usc ect,its been a few years since ive worked in ireland as ive been abroad for the past few years and minimum wage wasnt taxed as much before. Thanks in advance


Comments

  • #2
    puzzle factory
    Registered Users, Registered Users 2 Posts: 567 ✭✭✭puzzle factory


    chance this http://www.deloitte.ie/tc/


  • #3
    shady_lady
    Closed Accounts Posts: 4 ✭shady_lady


    Thanks for that,i used it but it told me that my monthly net pay would be €7!!!
    Its something like that i am looking for tho.


  • #4
    Gingernuts31
    Registered Users, Registered Users 2 Posts: 374 ✭✭Gingernuts31


    39 hours at 8.65/hour 337.35


    You shouldn't pay any tax assuming you have all your tax credits and are not sharing them with your spouse if married ( in short your credits are your own).

    PRSI 2.95% ish which is 9.95€

    USC at
    2% = 3.86 (0-193€ @ 2%)
    4% = 4.60 (193-308€ = 115 x 4% = 4.60)
    7% = 2.05 (308-337.35 = 29.35 x 7% = 2.05)

    No tax as low earner I think!.

    So 337.35
    - Prsi 9.95
    2% 3.86
    4% 4.60
    7% 2.05

    Leaves you with 316.89 take home provided you are not paying tax. If you are you take your 337.35 multipy that by 20%, take away your weekly tax credit (lets say its 64 a week). That leaves you with 337.35 multipy by 20% = 67.47 a week minus tax credit of 64 a week = 3.47 tax a week.

    So 337.35
    - Prsi 9.95
    2% 3.86
    4% 4.60
    7% 2.05
    Tax 3.47

    Leaves you with 313.42 take home if you are paying tax.

    Good luck with the job :)


  • #5
    shady_lady
    Closed Accounts Posts: 4 ✭shady_lady


    Thanks so much for that,its very helpful:D
    next stop tax office,make sure everything is sorted there really dont want to be paying emergancy tax on top!!!


  • #6
    Attabear
    Registered Users Posts: 326 ✭✭Attabear


    I don't think you will be paying any PRSI. Just tax possibly (depending on circumstances) and USC, which may be capped at 4% if you have a medical card.


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  • #7
    relax carry on
    Registered Users, Registered Users 2 Posts: 4,085 ✭✭✭relax carry on


    Re the tax side of things, the links below will be of assistance in understanding the Irish PAYE system. You should make an effort to understand the system you are taxed under so you can ensure your payslips are correct.

    http://www.revenue.ie/en/personal/faqs/starting-work-tax.html

    http://www.revenue.ie/en/personal/faqs/how-do-i-work-out-my-tax.html

    http://www.revenue.ie/en/tax/it/leaflets/it11.html


  • #8
    Gingernuts31
    Registered Users, Registered Users 2 Posts: 374 ✭✭Gingernuts31


    shady_lady wrote: »
    Thanks so much for that,its very helpful:D
    next stop tax office,make sure everything is sorted there really dont want to be paying emergancy tax on top!!!

    Glad you found it helpful. If you don't have a p45 from a previous employer just ask your new employer for their Employers registration number and you can call your tax office and tell them you want to get a new tax credit cert and give them your new employers registration number. They will issue you a cert and one to your employer too which will outline about your tax credits and USC you will be liable to pay if any. It will show the rates and caps but the worksheet I did for you should help you understand it.


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