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calculate average tax rate

  • 21-05-2015 8:57am
    #1
    brisan
    Registered Users, Registered Users 2 Posts: 2,242 ✭✭✭


    I know top slicing has been abolished ,but I need to work out my average tax rate as my employer may make up the difference on an upcoming redundancy package.

    if i have a gross pay of 85000,pension payments of 6000 and tax paid of 22000 what is my average tax rate.

    Also if i pay a lump sum of 20,000 into AVC,s (and get a tax refund of 8000 )how will this affect my average tax rate.

    TIA for your replies


Comments

  • #2
    gerrybbadd
    Registered Users, Registered Users 2 Posts: 10,301 ✭✭✭✭gerrybbadd


    brisan wrote: »
    I know top slicing has been abolished ,but I need to work out my average tax rate as my employer may make up the difference on an upcoming redundancy package.

    if i have a gross pay of 85000,pension payments of 6000 and tax paid of 22000 what is my average tax rate.

    Also if i pay a lump sum of 20,000 into AVC,s (and get a tax refund of 8000 )how will this affect my average tax rate.

    TIA for your replies

    Divide tax paid by taxable (NOT Gross) pay, multiply by 100.

    The AVC reduces taxable pay, so whatever your taxable pay is, reduce that by 20,000 for the AVC.


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