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Calculating Net pay

  • 01-02-2010 8:17pm
    #1
    eilisc
    Closed Accounts Posts: 1 ✭


    Hi there - Contemplating returning to work after 3rd child and trying to calculate net pay to see if it will work out financially. Have been advised by my accountant to expect 50% of my wage to disappear in tax, PRSI and levies. My husband is working and is claiming all my credits so expect I will start paying at the top rate? Is my accountant correct?

    Thanks for advice!

    eilisc
    Tagged:


Comments

  • #2
    tomcollins97
    Closed Accounts Posts: 951 ✭✭✭tomcollins97


    Yes.

    Google 'Irish Tax Calculator' and a few websites will pop up. Such as http://www.deloitte.ie/tc/


  • #3
    namenotavailablE
    Registered Users, Registered Users 2 Posts: 59,702 ✭✭✭✭namenotavailablE


    Or you can try my spreadsheet at http://taxcalc.eu/monthlyss

    Your average tax rate will depend obviously on your income. However, the first €27400 of your income should be taxed at 20% and anything else at 41% PAYE. Levies will add another c 8% to this.
    You should have a minimum of €1830 employment credit (assuming your income exceeds €9150)- it cannot be transferred to your spouse. This credit will reduce your gross tax.

    Free Excel net pay calculator- https://taxcalc.eu/monthlyss/Employee%20PAYE%20calculator.xlsm



  • #4
    Ticktactoe
    Registered Users, Registered Users 2 Posts: 765 ✭✭✭Ticktactoe


    namenotavailabl wrote: »
    Or you can try my spreadsheet at http://taxcalc.eu/monthlyss

    Your average tax rate will depend obviously on your income. However, the first €27400 of your income should be taxed at 20% and anything else at 41% PAYE. Levies will add another c 8% to this.
    You should have a minimum of €1830 employment credit (assuming your income exceeds €9150)- it cannot be transferred to your spouse. This credit will reduce your gross tax.

    +1


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