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how much can i earn before i am taxed??

  • 28-11-2008 8:09pm
    #1
    clickerfingers
    Closed Accounts Posts: 191 ✭✭


    i need to know how much i can earn a week before i am taxed as i have holiday pay due to me , i only work part time , at the weekends and during the summer and have never hit the limit before but think i might be in danger of it now.

    just a single student :)


Comments

  • #2
    samhail
    Registered Users, Registered Users 2 Posts: 2,699 ✭✭✭samhail


    looks like €1,830 ?

    check out http://www.revenue.ie/index.htm?/leaflets/it1.htm


  • #3
    [Deleted User]
    Posts: 5,589 ✭✭✭ [Deleted User]


    I would doubt thats correct as I am sure that would pay tax if you were earning over 95k per year.


  • #4
    Time Magazine
    Registered Users, Registered Users 2 Posts: 8,452 ✭✭✭Time Magazine


    Moved from Economics.


  • #5
    mikemac
    Closed Accounts Posts: 19,986 ✭✭✭✭mikemac


    lol, that 1,830 isn't a weekly tax credit. I wish it was
    If it was sure very few of us would pay anything

    Oh you'll pay tax on 95k alright
    But some say if you're a millionaire in Ireland with a clever accountant you pay no tax ;)


  • #6
    brianomc
    Registered Users, Registered Users 2 Posts: 694 ✭✭✭brianomc


    It depends on your circumstances really due to differences in tax credits for individuals. But for your average single person, with a weekly tax credit of €70.39 they can earn €351.95 per week before paying any tax.
    For yourself, just multiply your weekly tax credit by 5. If you earn any more than this you will start to pay tax. But as PAYE is done on a cumulative basis, any unused tax credits to-date for this year can be used to reduce your net tax and you might find you still don't pay any tax for a few more weeks/months.
    You are exempt from paying PRSI on earnings less than €352.


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  • #7
    clickerfingers
    Closed Accounts Posts: 191 ✭✭clickerfingers


    ok im really sorry if i sound stupid, but i am terrible with taxes and stuff like this! I am due to get paid holiday money this week along with my wage, so altogether i should get about 500 euro. i have never been taxed all year though, so will i still have to pay tax on this, or will i be able to claim it back??
    also, will i be taxed on the whole sum, or just the part that goes over the limit?? and what rate is tax?? is it 20%??


  • #8
    LightningBolt
    Registered Users, Registered Users 2 Posts: 1,639 ✭✭✭LightningBolt


    Presuming you're a pt worker and you get €500.

    You'll be taxed at 20% which is €100.

    Your weekly tax credit allowance is €70 (rough figure).

    The remaining €30 will be deducted from your pay. At the end of the year you can claim it back, if it were to happen earlier in the year you can usually claim it back immediately.


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