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Tax assessment

  • 26-06-2016 03:57PM
    #1
    Registered Users, Registered Users 2 Posts: 5


    Hi,

    Just wondering is there an online calculator for assessing tax credits etc.

    Trying to see the financial impact of my wife moving from 5 day week to 3 day week. Currently we are individually assessed for tax.

    I make e85,000 pa and my wife makes e57,000. What advantage is it to joint assess ?

    Thanks in advance


Comments

  • Registered Users, Registered Users 2 Posts: 401 ✭✭Lockedout2


    None.

    Only if one spouse earns less than €33,800 is there a benefit.


  • Registered Users, Registered Users 2 Posts: 4,161 ✭✭✭relax carry on


    Hi,

    Just wondering is there an online calculator for assessing tax credits etc.

    Trying to see the financial impact of my wife moving from 5 day week to 3 day week. Currently we are individually assessed for tax.

    I make e85,000 pa and my wife makes e57,000. What advantage is it to joint assess ?

    Thanks in advance

    If we assume that your wife will be earning 3/5ths of the 57000 which is 34200, she will still use all of her rate band of 33800 and credits. There will be no advantage to you unless her earnings go below her rate band. No harm to opt for joint assessment anyway as you never can tell what the future brings. Being jointly assessed means you can react to changes in real-time.


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