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Joint Taxation

  • 10-05-2012 1:44pm
    #1
    donalg1
    Closed Accounts Posts: 3,513 ✭✭✭


    Just wondering if there are any benefits to a couple being jointly assessed for income tax once married? I know there are most likely benefits for some couples more so than others, but just wondering if has any info on the workings of it all and if they would advise contacting the Revenue about the possibility of joint assessment.


Comments

  • #2
    Citizenpain
    Registered Users, Registered Users 2 Posts: 2,004 ✭✭✭Citizenpain


    Are you both in the higher tax band? --


  • #3
    donalg1
    Closed Accounts Posts: 3,513 ✭✭✭donalg1


    Citizenpain wrote: »
    Are you both in the higher tax band? --

    Both in the lower and paid pretty much the same, one slightly higher maybe €2k or that, close enough to the €32,800 mark


  • #4
    nompere
    Registered Users, Registered Users 2 Posts: 1,678 ✭✭✭nompere


    Quoting myself from a while back:
    nompere wrote: »
    Joint assessment and separate assessment are always supposed to leave a couple paying exactly the same amount of tax - though how much each of them pays may vary. Revenue aren't perfect, so it's usually safer to opt for joint assessment.


  • #5
    relax carry on
    Registered Users, Registered Users 2 Posts: 4,113 ✭✭✭relax carry on


    donalg1 wrote: »
    Citizenpain wrote: »
    Are you both in the higher tax band? --

    Both in the lower and paid pretty much the same, one slightly higher maybe €2k or that, close enough to the €32,800 mark

    No real benefit at the moment as both of you are using up your standard credits and almost all of your rate band.
    However in my opinion its always best to opt for joint assessment to cover unforseen circumstances like reduction in income or unemployment. Being joint assessed allows you to transfer a portion of rate band and credits if needed during an active tax year.

    http://www.revenue.ie/en/tax/it/leaflets/it2.html


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