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Just finished college and starting a summer job, do I pay full tax?

  • 21-05-2015 4:38pm
    #1
    Mr. McGreg
    Registered Users, Registered Users 2 Posts: 54 ✭✭


    Hi guys, I'm just out of college tomorrow with an undergrad degree, I'm just doing a bit of work in a local restaurant for the summer and I was wondering does anyone know what kind of tax break I might/might not be entitled to?

    I know from previous jobs I wasn't taxed due to being a student, but since I haven't graduated yet am I still seen as a student and entitled to the same breaks? If not will I have to apply for tax credits etc.

    Any help would be appreciated, thanks very much.


Comments

  • #2
    GrumpyMe
    Registered Users, Registered Users 2 Posts: 1,195 ✭✭✭GrumpyMe


    Most likely you were not taxed previously because of your level of earnings - nothing to do with your "occupation". If you only work for the summer you should be in more or less the same situation. Your entitlements should be +/- personal tax credit 1650 + paye tax credit 1650. First 32800 will be liable to 20% tax. Earnings up to 12012 liable to usc @2% then up to 17576 @ 3.5% and 7% on the rest (unless you exceed 70044!
    Seehttp://www.revenue.ie/en/tax/it/leaflets/it1.html#section1

    Yes you need to inform Revenue that you are working. They will issue a cert of credits to employer and copy to you.


  • #3
    Mr. McGreg
    Registered Users, Registered Users 2 Posts: 54 ✭✭Mr. McGreg


    GrumpyMe wrote: »
    Most likely you were not taxed previously because of your level of earnings - nothing to do with your "occupation". If you only work for the summer you should be in more or less the same situation. Your entitlements should be +/- personal tax credit 1650 + paye tax credit 1650. First 32800 will be liable to 20% tax. Earnings up to 12012 liable to usc @2% then up to 17576 @ 3.5% and 7% on the rest (unless you exceed 70044!
    Seehttp://www.revenue.ie/en/tax/it/leaflets/it1.html#section1

    Yes you need to inform Revenue that you are working. They will issue a cert of credits to employer and copy to you.

    Thanks! So just to get this straight (I'm awful with anything tax related) any earnings up to 1650 will be untaxed while after that it'll be liable to 20% tax?


  • #4
    GrumpyMe
    Registered Users, Registered Users 2 Posts: 1,195 ✭✭✭GrumpyMe


    Not quite...
    All earnings up to 32800 taxed at 20% but over the year you get to deduct 3300 (Personal 1650 +PAYE 1650 tax credits) off the amount due...


  • #5
    Geuze
    Registered Users, Registered Users 2 Posts: 14,039 ✭✭✭✭Geuze


    Mr. McGreg wrote: »

    I know from previous jobs I wasn't taxed due to being a student, but since I haven't graduated yet am I still seen as a student and entitled to the same breaks? If not will I have to apply for tax credits etc.

    Any help would be appreciated, thanks very much.


    Being a student is totally irrelevant.

    It's low income that means you don't pay income tax.


  • #6
    thesimpsons
    Registered Users, Registered Users 2 Posts: 1,696 ✭✭✭thesimpsons


    best hint for graduates - educate yourself on tax. you'll be paying it for long enough and a shocking amount of people don't know how it works, often pay too much tax and don't know how to claim it back, or pay to little and end up with a tax bill. attached is a good guide on basic tax

    http://www.revenue.ie/en/personal/circumstances/student.html


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