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salary tax

  • 14-03-2008 7:12pm
    #1
    memet
    Closed Accounts Posts: 35 ✭


    hi all
    forgive me if this is not the right place to post..
    im just wondering how much tax is taken out of a 24 k stated salary?
    im just not familiar with the whole tax thing
    thanks


Comments

  • #2
    jahalpin
    Registered Users, Registered Users 2 Posts: 1,031 ✭✭✭jahalpin


    Assuming that you are single and this is your only income, you will end up with an after tax salary of 22,024


  • #3
    memet
    Closed Accounts Posts: 35 ✭memet


    ye thats right
    are you sure? i heard it was 20% if u earned below 35k , which left me breathless!


  • #4
    board om
    Closed Accounts Posts: 643 ✭✭✭board om


    memet wrote: »
    ye thats right
    are you sure? i heard it was 20% if u earned below 35k , which left me breathless!

    it is 20% but you have a tax free allowance as well. your tax free allowance wont be suject to the 20% deduction.

    so to work it out you take 20% of you salary and then deduct the tax free allowance and you will be left with the taxable amount.


  • #5
    memet
    Closed Accounts Posts: 35 ✭memet


    do you know whats this tax free allowance?


  • #6
    Stark
    Registered Users, Registered Users 2 Posts: 21,081 ✭✭✭✭Stark


    It's tax credits these days, they did away with tax free allowance.

    It means that you take 20% of your salary to get the gross amount of tax payable, then you subtract your tax credits from that figure. A single person typically has €3660 in tax credits, you get more if you claim things like rent relief, service charge relief etc. You'll also have to pay 4% PRSI and 2% health levy on some of your earnings.

    I recommend you use an online tax calculator to work it out:

    http://www.hookhead.com/Tools/tax2008.jsp


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