tax advice please

Syllabus.

can anyone tell me in plain english( ive read the revenue site) what i would be better off doing, money wise-

if i gave up work or was let go would i be better off claiming the dole or giving my wife my credits? the wife is on about 45k pa

as a married man with a wife earning that amount am i due the full dole amount?

thanks

yesman2000

How do you expect to get free comprehensive advice on something like this. No tax consultant, or any other professional, provides their expertise over the internet for no reward. Ask your/get a tax consultant :mad:

Itchianus

yesman2000 wrote: »

How do you expect to get free comprehensive advice on something like this. No tax consultant, or any other professional, provides their expertise over the internet for no reward. Ask your/get a tax consultant :mad:

Hardly requires comprehensive advice based on detailed consideration of legislation! - in fact it's the kind of question everyone who completes secondary school should be able to understand and answer - it's a major failure of the education system in this country, that the basic workings of income tax are like some kind of arcane subject to so many people...

allthedoyles

First of all if you give up work of your own accord , you will not be able to claim dole for 2 months .

You can then only claim your benefits for about 10 months and after that you will be means-tested .

From April 2013 , JSB is only payable for 9 months

yesman2000

Itchianus wrote: »

Hardly requires comprehensive advice based on detailed consideration of legislation! - in fact it's the kind of question everyone who completes secondary school should be able to understand and answer - it's a major failure of the education system in this country, that the basic workings of income tax are like some kind of arcane subject to so many people...

Well since the OP has already outlined that they've already looked over what revenue has to say and still doesn't know where they stand on the matter, professional advice is clearly needed. Thankfully there are more generous souls out there than myself that will provide the needed information.

In a perfect world, yes, it would be taught in SS. However, every sector and industry (science, arts & humanities, engineering etc.) could argue that something from their area, that is of practical application, should be on the curriculum, leading to not enough time for all.

Itchianus

yesman2000 wrote: »

Well since the OP has already outlined that they've already looked over what revenue has to say and still doesn't know where they stand on the matter, professional advice is clearly needed. Thankfully there are more generous souls out there than myself that will provide the needed information.

In a perfect world, yes, it would be taught in SS. However, every sector and industry (science, arts & humanities, engineering etc.) could argue that something from their area, that is of practical application, should be on the curriculum, leading to not enough time for all.

Well I distinctly remember having the operation of PAYE (tax free allowance and standard rate band) explained in Junior Cert Business Studies, and have been able to understand how a payslip is calculated ever since - was this just because I had a very clued in business studies teacher?

Taxes are one of only two things in life that are certain. What could possibly be more practical?

phormium

With one person on 45k you will almost certainly not be entitled to any dole (jobseekers allowance) once your entitlement to jobseekers benefit ends so there isn't really any choice to make.

Call into your local citizens information office and they will work out the figures for you but I can't see anyway that you would get dole with that household income.

yesman2000

Itchianus wrote: »

Well I distinctly remember having the operation of PAYE (tax free allowance and standard rate band) explained in Junior Cert Business Studies, and have been able to understand how a payslip is calculated ever since - was this just because I had a very clued in business studies teacher?

Taxes are one of only two things in life that are certain. What could possibly be more practical?

I am sure the medical profession would advocate the introduction to the curriculum a time allotment that would educate students about some simple standard, daily, procedure we could all perform on ourselves, that would allow for early early detection of some common, avoidable disease. This could delay the other thing you elude to being certain in life. I am not sure, it's not my area. I am sure there are more from different sectors.

This is very off topic I must add.

Syllabus.

phormium wrote: »

With one person on 45k you will almost certainly not be entitled to any dole (jobseekers allowance) once your entitlement to jobseekers benefit ends so there isn't really any choice to make.

Call into your local citizens information office and they will work out the figures for you but I can't see anyway that you would get dole with that household income.

1st bit of relevant advice


i dont want to draw the dole if i can avoid it. much prefer the idea of the missus taking my credits

Syllabus.

yesman2000 wrote: »

How do you expect to get free comprehensive advice on something like this. No tax consultant, or any other professional, provides their expertise over the internet for no reward. Ask your/get a tax consultant :mad:

em, by asking for it

all i was after was first hand experience not a detailed break down of facts and figures a consultant would provide:rolleyes:


im surprised you were able to read this thread with your head so far up your ar............................

Stheno

Op

Plug in what you and your wife currently earn here as a married couple

Then plug in hers only still married

Then plug in hers and yours @ 9 months of JSB which is 188 * 39

That will tell you the differences as simply as possible.

It's a very simplistic calculation though

After nine months you'd only have her income as you'd not be eligible for JSA

smcgiff

Syllabus. wrote: »

if i gave up work or was let go would i be better off claiming the dole or giving my wife my credits? the wife is on about 45k pa

The two are not mutually exclusive. You can give your wife your personal tax credit, but not any unused paye tax credit. You can also transfer tax bands.

The above will not affect your eligibility to qualify for job seekers allowance/ benefit.

phormium

As above, it's not an either or situation, your wife can still take your tax credits and you can get your jobseekers benefit until it runs out, assuming that is you are jobseeking which you need to be to qualify.

allthedoyles

If you are working full-time earning the minimum wage ( around €18,000) it is not going to be very attractive to give up working, as you will be paying a minimal amount of tax anyway .

If you are working full-time and earning the average industrial wage ( around €35,000 ) it will be less attractive to give up working , as the amount you earn would far outweigh the amount of tax you pay .