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Married Couple: whats best in this situation

lotsofthegreen · 2012-03-23 23:17:26

2012 Currently Joint Assessed. Wife is assesible spouse Wife: 47,000 Gross Earnings (Taxable) expected by 31dec - well into 41% Bracket Age: 61 No other income Husband: 11975.00 DSP Pension (to dec 31st) Age 65 No other income Wifes tax credits are reduced to pay DSP Pension Tax. Currently wife has the following credits:…

23-03-2012 11:17pm

#1

lotsofthegreen

Registered Users, Registered Users 2 Posts: 483 ✭✭

Join Date: October 2009

Posts: 412

2012

Currently Joint Assessed. Wife is assesible spouse

Wife: 47,000 Gross Earnings (Taxable) expected by 31dec - well into 41% Bracket
Age: 61 No other income

Husband: 11975.00 DSP Pension (to dec 31st)
Age 65 No other income

Wifes tax credits are reduced to pay DSP Pension Tax.

Currently wife has the following credits:

PAYE 3300 (50/50 i assume)
PRSI 3300 (50 /50 i assume)
Flat Rate Expenses 733 (belonnging to her)
Age Tax Credit 490 (she would lose i assume if seperately assessed as under 65)

Would they be better or worst off if they went for separate assement this year?

Opinions Wanted Please

0

Comments

#2 24-03-2012 1:44pm

Mr. Incognito

Registered Users, Registered Users 2 Posts: 9,798 ✭✭✭

Join Date: March 2007

Posts: 9552

rread the charter

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This discussion has been closed.