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Payslip explained

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  • 07-08-2014 2:46pm
    #1
    boxy_80
    Registered Users Posts: 9 ✭


    My salary per month is 1956. The gross pay after pre tax deduction is 1898.

    Employee PRSI- 78
    USC - 39
    Pre tax deduction- 58

    Net pay-1779.

    Annual Cut -ff- 32,800
    Annual tax credit - 3300

    But under tax section in my payslip, it says- 0

    Why so? Could someone please explain it?

    Thanks
    Tagged:


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    #2
    ibarelycare
    Registered Users Posts: 58,456 ✭✭✭✭ibarelycare


    Did you just start a new job after a break in employment?


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    #3
    boxy_80
    Registered Users Posts: 9 ✭boxy_80


    Yes. I started working here in May 2014. Before this, I worked last from June- Dec 2012.


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    #4
    ibarelycare
    Registered Users Posts: 58,456 ✭✭✭✭ibarelycare


    Your tax credits and cut off have accumulated from the start of the year, so in May you had 5 months' worth of tax credits built up. This means that you won't have a few months before you have any tax to pay. I can do a proper calculation for you tomorrow to see if/when you'll have to pay any before the end of the year, just about to leave work now!


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    #5
    boxy_80
    Registered Users Posts: 9 ✭boxy_80


    ibarelycare wrote: »
    Your tax credits and cut off have accumulated from the start of the year, so in May you had 5 months' worth of tax credits built up. This means that you won't have a few months before you have any tax to pay. I can do a proper calculation for you tomorrow to see if/when you'll have to pay any before the end of the year, just about to leave work now!

    That would be great. If you can do it for me. Thanks. Could you let me know my salary once I run out of the credits.


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    #6
    ibarelycare
    Registered Users Posts: 58,456 ✭✭✭✭ibarelycare


    Ok so you have enough PAYE credits and cut-off built up to cover the rest of the year, so you won't be paying any PAYE.

    Your USC looks like it will increase by about €18 this month, and then by a further €4 next month and will remain the same for the rest of the year.

    My calculations for eePRSI are a few euro lower than your one for some reason, but your net pay for August by my calculation should be €1766, and then €1762 from September onwards.


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