Salary 52,500 Euro - How Much Is Left After Taxes?

Robdude

I'm new to Ireland and I'm hearing a lot of different things when it comes to taxes. Can someone give me a rough-estimate of how much money you would get each month if you had an annual salary of 52,500 Euro? Assuming you are married and your spouse does not work.

I found some websites that had a simple tax formula and it worked out to something like 46,200 euro, after income tax. Does that sound correct?

I had a lady at the bank here (Bank Of Ireland) say something about them taking *half* of your pay check in taxes...and my jaw dropped. She seemed completely serious and I didn't pester her for more details.

Also, are taxes taken out each month automatically, or do you get a large bill at the end of the year?

AntiVirus

Try here:

http://taxcalc.eu/

steamsey

€46,200 on a net salary of €52,500 does not sound correct - it sounds like a good bit too much.

Try this site for a rough idea - http://www.hookhead.com/Tools/tax2011.jsp

You'll need to adjust the tax credits / maritial status depending on your personal situation

If you are working for a company as an employee, then you will be a Pay As You Earn (PAYE) worker so taxes will be automatically deducted from your salary by your employer. There should be no tax bill at the end of the year unless your employer has messed things up for you.

It's worth registering for the Revenue online system - "ROS" and you can manage tax credits there, see balancing statements etc. It's quite handy.

steamsey

also this might help explain things
http://www.citizensinformation.ie/en/employment/starting_work_and_changing_job/starting_work/tax_and_starting_work.html

Inquitus

Robdude wrote: »

I'm new to Ireland and I'm hearing a lot of different things when it comes to taxes. Can someone give me a rough-estimate of how much money you would get each month if you had an annual salary of 52,500 Euro? Assuming you are married and your spouse does not work.

I found some websites that had a simple tax formula and it worked out to something like 46,200 euro, after income tax. Does that sound correct?

I had a lady at the bank here (Bank Of Ireland) say something about them taking *half* of your pay check in taxes...and my jaw dropped. She seemed completely serious and I didn't pester her for more details.

Also, are taxes taken out each month automatically, or do you get a large bill at the end of the year?

€36k give or take. i.e. 3k per month rest is Tax etc. deducted at source by your employer and paid over on your behalf.

namenotavailablE

Try my spreadsheet at http://taxcalc.eu/monthlyss

Based on your information, you'd net €3323 per month in a full year. If your spouse is staying at home to mind children, that would be €3390 per month due to extra tax credits.
Note that if you start working mid year, these figures would be slightly higher for a period as you'd have some unused tax credits in the first couple of months.

daltonmd

steamsey wrote: »

€46,200 on a net salary of €52,500 does not sound correct - it sounds like a good bit too much.

Try this site for a rough idea - http://www.hookhead.com/Tools/tax2011.jsp

You'll need to adjust the tax credits / maritial status depending on your personal situation

If you are working for a company as an employee, then you will be a Pay As You Earn (PAYE) worker so taxes will be automatically deducted from your salary by your employer. There should be no tax bill at the end of the year unless your employer has messed things up for you.

It's worth registering for the Revenue online system - "ROS" and you can manage tax credits there, see balancing statements etc. It's quite handy.

Great link. thanks.

Mr. Incognito

THIS IS WHY THERE IS A BAN ON TAX CALCS IN THE FORUM RULES.

WE HAVE DIFFERENT TAX CALS HERE ALL GIVING DIFFERENT RESULTS.

LET THAT BE A LESSON TO US ALL