Calculating Net pay

eilisc

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

tomcollins97

Yes.

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

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.

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.

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