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Financial benefits to marriage

  • 25-05-2009 4:00pm
    #1
    Photojoe
    Closed Accounts Posts: 182 ✭✭


    I'm thinking about getting married, just for the craic of it. No wedding or any of that crap. I'd be interested if there are any tax benefits being married.


Comments

  • #2
    ardmacha
    Registered Users, Registered Users 2 Posts: 7,476 ✭✭✭ardmacha


    Marriage is a serious thing, better not done only for "the craic".


  • #3
    Photojoe
    Closed Accounts Posts: 182 ✭✭Photojoe


    ardmacha wrote: »
    Marriage is a serious thing, better not done only for "the craic".
    Get over it, its not that serious a thing. Loving the same women for 8 years is serious, a ceremony and legal bond is fairly insignificant compared to that.


  • #4
    CathyMoran
    Registered Users, Registered Users 2 Posts: 7,458 ✭✭✭CathyMoran


    Photojoe wrote: »
    Get over it, its not that serious a thing. Loving the same women for 8 years is serious, a ceremony and legal bond is fairly insignificant compared to that.
    It does change things though, that person will officially be your family, your next of kin, you will be responsible if she gets ill etc. We married for love but I can not think of any financial benefit unless either of us dies and we would not undergo inheritance tax, also you can share tax credits...I would advise doing it for love only.


  • #5
    Photojoe
    Closed Accounts Posts: 182 ✭✭Photojoe


    CathyMoran wrote: »
    It does change things though, that person will officially be your family, your next of kin, you will be responsible if she gets ill etc. We married for love but I can not think of any financial benefit unless either of us dies and we would not undergo inheritance tax, also you can share tax credits...I would advise doing it for love only.

    So if both people are working then it will the tax credits thing increase our take home. Say if just one works?

    I think marriage is a bit of a pointless institution and I would tend to look down on people who have weddings. If it can give me a bit of extra cash then I'm all for it.


  • #6
    The_Conductor
    Moderators, Society & Culture Moderators Posts: 32,286 Mod ✭✭✭✭The_Conductor


    Photojoe wrote: »
    So if both people are working then it will the tax credits thing increase our take home. Say if just one works?

    I think marriage is a bit of a pointless institution and I would tend to look down on people who have weddings. If it can give me a bit of extra cash then I'm all for it.

    If one person is working they can claim all the tax credits, but they cannot share tax bands (i.e. they will continue to hit the higher band at 36k (or whatever level its at) irresepective of whether they are married or not- but can claim the tax allowances for both partners).

    Individualisation of the tax bands by McCreevy- starting back in 2001- changed the situation (whereby getting married made great sense financially). There are marginal benefits (credits and allowances) but not bands (unfortunately).

    Ps- no-one gets married 'for the craic'- its a massive commitment- both to your partner, but also legally........


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  • #7
    The Blonde One
    Registered Users, Registered Users 2 Posts: 142 ✭✭The Blonde One


    If you get married and opt for joint assessment, then during the tax year the couple can share tax credits (except for the PAYE credit, regardless of the fact that only 1 person may be working), and transfer a small amount of the rate bands (9000), so one person can have a standard rate cut-off point of 27400, the other person can then have a standard rate cut-off point of 45400.


  • #8
    Photojoe
    Closed Accounts Posts: 182 ✭✭Photojoe


    The Blonde One wrote: »
    If you get married and opt for joint assessment, then during the tax year the couple can share tax credits (except for the PAYE credit, regardless of the fact that only 1 person may be working), and transfer a small amount of the rate bands (9000), so one person can have a standard rate cut-off point of 27400, the other person can then have a standard rate cut-off point of 45400.

    Thanks for this and SMC.

    Does anybody get married and become a housewife nowadays. My partner would be into it and so would I but I would like to know if its financially possible these days. I'd have a kid if that brought in more money, ha.


  • #9
    The_Conductor
    Moderators, Society & Culture Moderators Posts: 32,286 Mod ✭✭✭✭The_Conductor


    Photojoe wrote: »
    I'd have a kid if that brought in more money, ha.

    Most sane people don't have kids to bring in more money....... Very few households can afford to willingly have a partner stay at home these days (more often than not these days its not out of choice- with all the redundancies everywhere).


  • #10
    Photojoe
    Closed Accounts Posts: 182 ✭✭Photojoe


    smccarrick wrote: »
    Most sane people don't have kids to bring in more money....... Very few households can afford to willingly have a partner stay at home these days (more often than not these days its not out of choice- with all the redundancies everywhere).

    So if she is jobless I assume there is no dole or housewife allowance. Prices are coming down nicely now and she is getting shafted now paying so much in tax, running a car and her own apt. (we have to live 100 miles away the last few months as she can't get a job near my new one). I would save money on food, cleaning and quite a few other things if she was at those full time. Jesus, the more I think of this our lives would be so much better. I'd be able to run a house myself on my income which is just above average but very secure.


  • #11
    bensoneb
    Closed Accounts Posts: 177 ✭✭bensoneb


    Photojoe,

    You are pathetic and I pity your partner with an attitude like that. If she has any sense, she'll see that money is your motivation and she'll move even further away from you!!!!!!!!!!!


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  • #12
    Malari
    Registered Users, Registered Users 2 Posts: 18,150 ✭✭✭✭Malari


    I don't think it matters what your motivation to get married is, as long as you both have the same motivation.

    If Photojoe and his partner see the benefit as being more cash in hand then so what? I don't see that as any different from some women seeing marriage as the big white fluffy wedding.


  • #13
    barbiegirl
    Registered Users, Registered Users 2 Posts: 1,846 ✭✭✭barbiegirl


    Marriage equals a committment, hopefully for life, to one another, through good times and bad.
    Wedding is the day the committment is made. Can be white and fluffy or a quick trip to the registry office.
    Don't get the two confused. :-)


  • #14
    Biro
    Closed Accounts Posts: 4,091 ✭✭✭Biro


    Malari wrote: »
    I don't think it matters what your motivation to get married is, as long as you both have the same motivation.

    If Photojoe and his partner see the benefit as being more cash in hand then so what? I don't see that as any different from some women seeing marriage as the big white fluffy wedding.

    You're right about the marriage motivation if both are on board with it, but it's a significant problem if this guy (possibly a troll) is on about having a kid to yeild more money. That's about as callous and cold as it gets. This guy looks down on people who "have weddings", yet thinks it's perfectly fine to "have a kid if that brought in more money". Maybe he thinks selling kids as slaves is a good source of income too.


  • #15
    Malari
    Registered Users, Registered Users 2 Posts: 18,150 ✭✭✭✭Malari


    barbiegirl wrote: »
    Marriage equals a committment, hopefully for life, to one another, through good times and bad.
    Wedding is the day the committment is made. Can be white and fluffy or a quick trip to the registry office.
    Don't get the two confused. :-)

    I'm not the one who gets them confused. I'm talking about the women who do!


  • #16
    barbiegirl
    Registered Users, Registered Users 2 Posts: 1,846 ✭✭✭barbiegirl


    Malari wrote: »
    I'm not the one who gets them confused. I'm talking about the women who do!

    Just a bit of a generalisation there :(


  • #17
    iguana
    Registered Users, Registered Users 2 Posts: 12,917 ✭✭✭✭iguana


    I'm going to lock this thread. The initial question about the financial benefits have been answered.

    If the OP or anyone else wishes to start a thread about the finances/life benefits of one partner being a housewife/husband feel free. As long as the language is not intentionally inflammatory, as I believe quite a bit on this thread is.

    Any discussion about having children for financial benefits is not suitable for this forum. Perhaps take it to humanities.


This discussion has been closed.
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