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query on how the threshold works on the new income levy rates

banjobongo · 2009-04-08 14:30:02

The new rates will be 2%, 4% and 6%. The new entry points will be €15,028, €75,036 and €174,980. I presume (HOPE) that the way these new rates will work is that you will get taxed on the higher rate on everything OVER the amount ie that if you earn for example 70K you will be hit by the 2% levy and that if you earn for…

08-04-2009 2:30pm

#1

banjobongo

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The new rates will be 2%, 4% and 6%. The new entry points will be €15,028, €75,036 and €174,980. I presume (HOPE) that the way these new rates will work is that you will get taxed on the higher rate on everything OVER the amount ie that if you earn for example 70K you will be hit by the 2% levy and that if you earn for example 80K you will pay 4% on yoru earnings that are higher than 75K. Am I correct, as none of the articles on the Times/Indo etc seem to address this point?

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Comments

#2 08-04-2009 3:49pm

Seres

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that is correct

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#3 08-04-2009 4:01pm

banjobongo

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thanks Seres. Good to know. Phew

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