Budget Calculator Live

Red Oak Tax Refunds: John

We've launched our Budget Calculator on
http://www.redoaktaxrefunds.ie/budget-calculator-ireland

Or you can find it on Facebook at
http://www.facebook.com/RedOakTaxRefunds?v=app_7146470109&ref=ts

Glad of any feedback

Includes Universal Social Charge, changes in Child Benefit, Flight tax and petrol and of course the Income Tax changes

wicorthered

Don't believe it for a second. If I only lose whats on here I'll be laughing all the way to the bank. Basically your telling me I'll lose the price of a pint a week! No Fudging chance!!

mmalaka

My work pay health insurance for me...how this would affect you calculator?

bigneacy

I'm the price of 4 pints worse off a week... **** you wicorthered :pac:

Red Oak Tax Refunds: John

mmalaka wrote: »

My work pay health insurance for me...how this would affect you calculator?

That's unaffected by the Budget so we didn't include it as you wont be "Better off or Worse off" from it.

Unless I missed a change there....

Sugar Free

I'm only down 4E a week which couldn't be right surely for someone who isn't yet into the higher tax band? I understand it's only just gone live but I think something may be off.

Someone in work did a rough calculation and it should be out 100E less for me a month.

wicorthered

bigneacy wrote: »

I'm the price of 4 pints worse off a week... **** you wicorthered :pac:

Trust me Im down a lot more then 1 pint a week that calculator aint right:mad:

The OH worked out that I'm a tiny bit better off after the budget, didn't believe it but the calculator says the same thing! Seems bizarre.

Red Oak Tax Refunds: John

MediumWell wrote: »

I'm only down 4E a week which couldn't be right surely for someone who isn't yet into the higher tax band? I understand it's only just gone live but I think something may be off.

Someone in work did a rough calculation and it should be out 100E less for me a month.

Double checking that for you, but with a Salary of about €30k, the phased Universal Social Charge is less than what the combined Income Levy and Health Levy were (6%), so you are making on that.

Red Oak Tax Refunds: John

Red Oak Tax Refunds: John wrote: »

Double checking that for you, but with a Salary of about €30k, the Universal Social Charge (4%) is less than what the combined Income Levy and Health Levy were (6%), so you are making on that.

Isnt the universal charge 7% on salary over 16k ?

Sugar Free

Red Oak Tax Refunds: John wrote: »

Double checking that for you, but with a Salary of about €30k, the Universal Social Charge (4%) is less than what the combined Income Levy and Health Levy were (6%), so you are making on that.

Brilliant, thanks

Edit: Damn! Ah Well 1% more isn't bad.

BoB_BoT

rarnes1 wrote: »

Isnt the universal charge 7% on salary over 16k ?

Was just about to post that :P

Red Oak Tax Refunds: John

rarnes1 wrote: »

Isnt the universal charge 7% on salary over 16k ?

Apols too right.
The USC is 7% above 16k, but only 2% under 10k, whereas when you are on €30k the combined Health Levy and Income Levy were 6% on everything

Red Oak Tax Refunds: John

The USC is better than the old way of charging Health Levy I think, see how it worked before for people on €26k+
http://blog.redoaktaxrefunds.ie/health-levy-charge-fiasco/

DubDani

BoB_BoT wrote: »

Was just about to post that :P

But in 2010 you paid 2% & 4% on the full 30K. In 2011 the USC you will pay is 2% on the first 10K, then 4% on the next 6K and only 7% on everything over around 16K. So in effect you will be better off. On 50K for example your USC will be 182 Euro less a year then you pay currently on Health and Income Levy.

BoB_BoT

well that's somewhat better than a flat tax across the board.

Blowfish

Flying Fox wrote: »

The OH worked out that I'm a tiny bit better off after the budget, didn't believe it but the calculator says the same thing! Seems bizarre.

Same here, looks like we'll be buying extra pints next year .

howamidifferent

The child benefit calculation is wrong. Its saying that with 3 kids you lose 30 euro but its actually 40 euro for 3 kids, 10 each for the first 2 and 20 for the third.