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Marriage, Maternaty leave, Bonuses and Tax

  • 22-02-2012 11:10am
    #1
    crazyderk
    Registered Users, Registered Users 2 Posts: 1,059 ✭✭✭


    Hi all,

    Hope you could give some advise about our upcoming situation.

    Myself and my wife are married for 20 Months now (married in Canada) and shes told me its been declared to Revenue back in 2010.

    She is due on May 14th and wont receive any maternity pay from her employer and is leaving work at the end of April for Maternity Leave and hopes to return to work early next year.

    We both employees and earn 34K each PA and she is due to get a bonus paid at the end of March of about 3-5K

    So I was wondering what our best options would be?

    Should we transfer her tax credits to me from May 1st? is it possible to specify an exact date and do we have to give much notification? ( Before March 31st rings a bell)

    I've looked at the Revenue website and read about marriage and being jointly assessed but cant really find exact details.

    Should we leave the tax credits with her and then make a claim early next year and claim tax back due to her bonus?

    she might have an option of deferring her bonus until the end of May where she wouldn't get paid due to not being paid maternity benefits from her employer, should we do that and then transfer her tax credits?

    any and all advice would be greatly appreciated as its our first child and were in a bit of unknown territory*.

    *I say a bit we're in a lot of unknown territory :D


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