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tax balancing

  • 29-12-2009 5:30pm
    #1
    hooks
    Closed Accounts Posts: 1 ✭


    Help! Am I correct in my assumption that when i earn over € 40,000 I am taxed at 40%?

    I am paid weekly and get a commisson once a month. Does this mean the week I am paid my commission I am taxed at 40% on the balance?

    As i was unemployed for around three months and am now luckily enough to be in a far better job than previously I only earned € 25,000 in 2009.

    Does that mean for the last few months where I have paid 40% on a proportion of mt wage does this mean I am entitled to claim this back as on an annual basis I didnt earn € 40,000?

    Thanks

    James


Comments

  • #2
    delgany
    Closed Accounts Posts: 23 ✭delgany


    Assuming you are a single man with no kids, it is slightly less than 40k when you enter the 41% tax bracket.

    Your earnings should be taken as a whole so if your total earnings did not go over the treshold you may be entitled to some tax back.

    The best thing to do is fill out a Form 12 in the New Year (downloadable from the Revenue website) and send it in to Revenue. Don't forget to include your medical expenses, bin charges and any donations.

    Make sure you also include any unemployment benefit you received as this is taxable.


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