New Job new package what will I have in my pocket?

maxwellhouse

Hi,

Can someone help me sort out what I'm going to have in my pocket at the end of each month. Below is what I've been offered.

Annual salary: € 40,000
Annual subsistence: € 9,600
Vehicle allowance: € 700 per month (plus fuel card)

i'm obviously not sure how all of this will add up and what I'll get into my pocket.

please help.

namenotavailablE

You would need to provide more information to get an exact value:

• What are your tax credits and cut-off point values? If you don't know, give your marital status for a good guess of these values.
• Is the car allowance an expense reimbursement or a benefit-in-kind amount ie do you actually receive this sum in cash as part of your monthly cheque or is it a notional value of a benefit (such as the free use of a car) which is provided to you?
• Can you confirm that the subsistence is basically a non-taxable allowance?

As an estimate, here's what I calculate using the current rules for a full year if you are a single person with standard tax credits and cut-off point values and assuming that both the car and subsistence allowances are not taxable:

Gross salary per month    3333

[B]Less:[/B]
PAYE                       425                          
PRSI/ Health levy          244
Income levy                [U] 67[/U]

[B]Net salary                2597[/B]

[B]Add: Non taxable values[/B]

Monthly car allowance      700
Monthly subsistence        [U]800[/U]

[B]Cheque per month          [U]4097[/U][/B]

Check out my Excel calculator at taxcalc.eu/monthlyss to download a spreadsheet based salary calculator

maxwellhouse

hi namenotavailabl, thanks for your help,

As of yet I don't know about the Car and the Subsistence I'll be finding out.
I have found out my credit is 323.50 and my cut off is 3059.83 I think this is per month.

Not married at the moment.

namenotavailablE

Gross salary per month    3333

Less:
PAYE                       401                          
PRSI/ Health levy          244
Income levy                 67

Net salary                2621

Add: Non taxable values

Monthly car allowance      700
Monthly subsistence        800

Cheque per month          4121