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joint assessment advise

  • 11-10-2010 10:22pm
    #1
    SearchExpert
    Closed Accounts Posts: 6 ✭


    sorry i'm sure this seems very simple to someone but im lost with all this joint tax assessment stuff.

    Can someone please tell me if we would be better of being jointly assessed, our circumstances are as follows:

    We got married a year and a half ago, both paye - one earns 80k pa, the other 25k pa. Had a baby couple of months ago so mum is on maternity but intends to go back to her job. Currently our taxes are seperate.
    Should we be getting jointly assessed?

    Are there any pitfalls?

    We would both greatly appreciate some advise - not getting much sleep with the babog at the moment :)
    Thanks


Comments

  • #2
    SRASE
    Registered Users, Registered Users 2 Posts: 86 ✭✭SRASE


    You should opt for joint assessment to take advantage of increased bands.

    Assuming you are on €80k abd spouse on €25k, your standard rate band (at which tax is paid at 20%) will increase by €9,000. This will result in a tax saving of €1,890 per year.


  • #3
    SearchExpert
    Closed Accounts Posts: 6 ✭SearchExpert


    Wow - thanks a million SRASE - that's great news


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