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Calculation

  • 04-01-2012 6:29am
    #1
    quiz
    Registered Users, Registered Users 2 Posts: 114 ✭✭


    I would appreciate it if someone could work out (show individual tax calculations) what tax liability would be for a single PAYE worker who earns E100k per year.

    Thanks.


Comments

  • #2
    Brewie
    Closed Accounts Posts: 73 ✭✭Brewie


    http://www.virtualaccountant.ie/Tools/tax2011.jsp

    simple calculator. It should tell you what you are looking for


  • #3
    relax carry on
    Registered Users, Registered Users 2 Posts: 4,113 ✭✭✭relax carry on


    quiz wrote: »
    I would appreciate it if someone could work out (show individual tax calculations) what tax liability would be for a single PAYE worker who earns E100k per year.

    Thanks.

    Ok this is how it works just for PAYE. The calculations below do not include USC or PRSI.

    You have a standard rate band of €32800 for 2012. That means that any earnings up to 32800 are taxed at 20%. Anything above is then taxed at 41%. Standard tax credits of €1650 Personal & €1650 PAYE is €3300

    So 32800 X 20% = 6560
    And 67200 x 41% = 27552
    Total tax due = 34112
    Minus Tax credits = 3300
    Actual tax to pay €30812

    That is the yearly calculation. To work out weekly just divide all the above figures by 52. To work out monthly divide by 12.

    http://www.revenue.ie/en/personal/faqs/how-do-i-work-out-my-tax.html


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