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Salary changed to fortnightly

  • 04-04-2012 1:00pm
    #1
    Whatever_fools
    Registered Users, Registered Users 2 Posts: 100 ✭✭


    Hiya,

    I recently started a new job on 35,000 gross and am being paid monthly on the second Wednesday of every month. I am earning 1,346 gross per month and coming out with approximately €1,120 net. I have some concerns I hope you can help me with.

    I used to be on a salary of 32,000 in my old job and brought home €2,100 net on 25th of every month. As you can see there is little difference in what I bring home despite the 3,000 extra - why?

    Will i pay any more tax being paid fortnightly?

    I am aware that being paid fortnightly means that there are 26 pay days per year as opposed to 12 but I am only on a 6 month contract so will that really make any difference to me when I will be gone in 6 months?

    I feel like i'm loosing money even though I've had a salary increase!

    Hope you can help me :confused:

    PS Maths has never been my strong point!


Comments

  • #2
    SBWife
    Registered Users, Registered Users 2 Posts: 1,287 ✭✭✭SBWife


    In 6 months you will have 13 paydays rather than 6, so yes it does make a difference.

    Your overall tax paid should not vary based on how frequently you are paid.


  • #3
    Mollyd90
    Registered Users, Registered Users 2 Posts: 608 ✭✭✭Mollyd90


    also depending on your personal circumstances, if you are single and no kids you will have hit the higher tax band of 41% when you earn over €32800.

    http://www.revenue.ie/en/tax/it/leaflets/it1.html#section3


  • #4
    Whatever_fools
    Registered Users, Registered Users 2 Posts: 100 ✭✭Whatever_fools


    Thanks Guys so I am just earning less each pay day but because I will have more pay days it will even out. Glad that I am not paying more tax :) I actually just got married earlier this year so I must look in to getting our tax credits changed. Thanks again.


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