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Round World Trip - Best time to leave - Tax back

  • 03-04-2007 9:47pm
    #1
    Gings
    Registered Users, Registered Users 2 Posts: 38 ✭


    Hi All,
    I'm planning a round the world trip and want to know what is the maximun I can earn and still be able to claim tax back at the end of year ( ie finance the trip when cash gets low). I'm trying to plan the best time to leave ireland, I will not be back until 2008. My lower tax rate cut off is 34000, I work shift work so pay tax at the higher rate aswell.

    The way I see it is that if i leave Ireland before i reach the 34000 mark I will get whatever tax I've paid at the higher rate @41 %. Is this right?

    If anyone has experienced this in the past or knows something about it, i'd be very greatful.

    Gings


Comments

  • #2
    bringitdown
    Registered Users, Registered Users 2 Posts: 2,002 ✭✭✭bringitdown


    When I went for the year I left end of May / start June and got 100% of my tax back including the taxable portion of a redundancy settlement.

    Not an expert but I think you use up more of your tax credits as you progress thru the year. In May I had 50% (approx) of my tax credits left so this offset the 50% I used and I could get a nice refund.

    Twas sweet!!!


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