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Tax on bonuses

eviltimeban · 2012-01-30 10:45:52

This questions relates to the amount of tax levied on bonuses when they are not paid as part of the monthly salary, but made in a seperate payment. I know the tax can be pretty high, but just wondering if anyone knew what the rate is for bonus payments?

30-01-2012 10:45am

#1

eviltimeban

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Posts: 4821

This questions relates to the amount of tax levied on bonuses when they are not paid as part of the monthly salary, but made in a seperate payment.

I know the tax can be pretty high, but just wondering if anyone knew what the rate is for bonus payments?

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#2 30-01-2012 11:27am

Tow

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The same tax rates as any other payment. See Employers Guide to PAYE for details

So if you are already paying highter tax etc etc in same period and all things being equal:
PAYE 41% + PRSI EE 4% + PRSI ER 10.75% + USC 7%
or
You get a bonus of €1,000 it costs your employe €1,107.50 the goverment gets €520 and you get €480.

When is the money (including lost growth) Michael Noonan took in the Pension Levy going to be paid back?

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