first time worker tax help

Timmy.Sheridan

Hi I'm 18 and have my first job.

As I understand I legally entitled to 6.95 pH

How much of this is taxed so how much do I get cash in hand on pay day?

namenotavailablE

There are many tax calculators out there- see my Excel spreadsheet linked in my signature below.
You can enter your income and tax details and it will show the amount you should receive per pay period.
Leave a message here if you need a hand with it.

Timmy.Sheridan

Can't get that excel thing to work...

I found this site: http://taxcalc.ie/budget-2014/?gross=40&employment-status=1&marital-status=1&spouse-income=&spouse-employment-status=1&children=0&primary_carer=0&age=29&age-credit=0&medical-card=0&house_value=&know-cutoff=0&own-cutoff=&know-credits=0&own-credits=&pension=&pension_type=Percentage&avc=&avc_type=Percentage&company-car=0&original-market-value=&business-mileage=24135&running-cost=&employer-health-insurance=0&heath-insurance-contribution=&rent=0&tuition=&incapacitated-child=0&dependent-relative=0&dependent-relative-income=&widow-year-bereavement=0&widow-parent-bereaved=0&blind=0&blind-spouse=0&guide-dog=0&employ-carer=0&submit=Calculate&show-advanced=0

Anyone able to tell me if this looks right? So I should be getting 32 euro cash in hand when paid and 8 euro should be paid by my employer to the revenue. And can I claim this back?

barneystinson

Timmy.Sheridan wrote: »

Can't get that excel thing to work...

I found this site: http://taxcalc.ie/budget-2014/?gross=40&employment-status=1&marital-status=1&spouse-income=&spouse-employment-status=1&children=0&primary_carer=0&age=29&age-credit=0&medical-card=0&house_value=&know-cutoff=0&own-cutoff=&know-credits=0&own-credits=&pension=&pension_type=Percentage&avc=&avc_type=Percentage&company-car=0&original-market-value=&business-mileage=24135&running-cost=&employer-health-insurance=0&heath-insurance-contribution=&rent=0&tuition=&incapacitated-child=0&dependent-relative=0&dependent-relative-income=&widow-year-bereavement=0&widow-parent-bereaved=0&blind=0&blind-spouse=0&guide-dog=0&employ-carer=0&submit=Calculate&show-advanced=0

Anyone able to tell me if this looks right? So I should be getting 32 euro cash in hand when paid and 8 euro should be paid by my employer to the revenue. And can I claim this back?

No you get all €40, look at the bottom line. The proper name for cash in hand as you call it, is your Net income.

Citizenpain

you might have some USC to pay - rather than using €40 in the calc - put in what your salary for the year will be approx

allthedoyles

As a first time worker ,in a first time job ,you should really allow your payslip to give you the correct answer .
In order for your payslip to give you the correct answer , you should browse the www.revenue.ie website , and have a look at tax credits .

Then apply to tax office for certificate of tax credits and tell them what you believe your gross earnings will be for 2014 .

Afterwards when you receive a payslip with updated details , you will have a good idea of where you stand tax wise .

Following on from that , when you receive your P60 at year end , you should send it to the local tax office ,and ask for a review of that particular year , and this balancing statement will give the correct outcome .

It is impossible for anyone in this taxation department to let you know , how much take home pay you will receive , because nowadays there are many deductions from wages like :

1. pension
2. pension levy
3. PRSI
4. PAYE
5. USC
6. club funds
7. xmas party
8. union fees
9. health insurance
10. Local property tax
11. plus others too depending on employer

namenotavailablE

If you're receiving €40 per day before deductions (approx 6 hours working) and working a 5 day week then you'll have €4.14 USC deducted and nothing else each week. This assumes that you're receiving typical tax credits and cut-off point. It also differs if you're working more or less than 5 days per week.
For an absolutely correct answer you'd need to be more precise with your weekly earnings i.e. how many hours per week @ €6.95 will you be working.