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Tax credits advice

  • 05-03-2012 9:51pm
    #1
    milhous
    Registered Users, Registered Users 2 Posts: 415 ✭✭


    What sort of financial difference would it make in a relationship if a husband and wife joined there tax credits given the scenario one is on €60k a year and the other is on BTEA (back to education allowance, €188, not taxable as far as I'm aware). We just got married and everything is separate, will this be financially beneficial)

    Thanks for any help.


Comments

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


    milhous wrote: »
    What sort of financial difference would it make in a relationship if a husband and wife joined there tax credits given the scenario one is on €60k a year and the other is on BTEA (back to education allowance, €188, not taxable as far as I'm aware). We just got married and everything is separate, will this be financially beneficial)

    Thanks for any help.

    First in order to do this you would need to opt to be joint assessed. Also if you only got married in 2012, you are still assessed as single.
    Second, you can transfer your spouses personal tax credit of 1650 Euro and 9000 Euro of the rate band which gives a reduction of about 3500 euro off your PAYE liability for a full tax year.

    http://www.revenue.ie/en/personal/circumstances/marriage.html

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


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