Benefits of being taxed as a married couple

gaiscioch

Hi,
I'm married a couple of years now and it just struck me recently that I'm still being taxed as a single person. My income is €45k; hers is €70k. Are there any disadvantages to being taxed as a couple? (For instance, if I lose my job will her income not be assessed because we were taxed separately?)

Is there any advantage to us being taxed as a married couple? If so, is it complicated to get it and will they backdate any excess tax to the date of our marriage? Thanks.

MeTV

Would also appreciate some information on this.

Ardeehey

From what I understand it's only of benefit if one of you don't use up all of their available tax credits...these then get transferred to the other person. So in the case that both of you are paid over €37k circa then there is probably no unused credits so it's exactly the same as if you were two individuals.

If circumstances changed and one person went to part time work or something like that then there maybe beneifts to the higher earner.

CIARAN_BOYLE

gaiscioch wrote: »

Hi,
I'm married a couple of years now and it just struck me recently that I'm still being taxed as a single person. My income is €45k; hers is €70k. Are there any disadvantages to being taxed as a couple? (For instance, if I lose my job will her income not be assessed because we were taxed separately?)

Is there any advantage to us being taxed as a married couple? If so, is it complicated to get it and will they backdate any excess tax to the date of our marriage? Thanks.

You are both using all your tax credits and bands so there is no benefit but it would be advisable to be listed as a couple in case things change (one of you lose your job or she goes on maternity leave or something) so that the person that nothing changes for can use the other's excess credits and bands.

Revenue will not backdate this change so its best to register as joint or separately assessed (as opposed to singly assessed)

sillysocks

Can I hi-jack this thread rather than start a new one? I'm currently unemployed and my husband has all my tax credits. He earns around 46k per year. I may be getting a 10 week contract on the equivalent of 21k per year. Is there any benefit to moving my tax credits back to me for the short period of time? If I leave my credits with him would the joint net income still be the same as if I took the credits back?

CIARAN_BOYLE

sillysocks wrote: »

Can I hi-jack this thread rather than start a new one? I'm currently unemployed and my husband has all my tax credits. He earns around 46k per year. I may be getting a 10 week contract on the equivalent of 21k per year. Is there any benefit to moving my tax credits back to me for the short period of time? If I leave my credits with him would the joint net income still be the same as if I took the credits back?

Joint net income will be the same.

dmark25

Can I also hijack this thread. My husband and I got married last year. I earn €23500 and he earns €29500. We both work full time. I am just wondering what would be the best option for us.