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Earning over €10,000 as a full time student?

  • 18-09-2016 11:20am
    #1
    Kirby2k07
    Registered Users, Registered Users 2 Posts: 109 ✭✭


    Question is in the title really. I'm still in my first degree as a full time student under 23, and since the start of the tax year (last December) I've worked three different taxed jobs. By the time I reach November of this year I will have earned about €10,500. Will this mean that I have to pay a huge amount of tax because I've crossed the 10K line?
    Lil confused here if anyone knows the craic


Comments

  • #2
    Pawwed Rig
    Moderators, Category Moderators, Home & Garden Moderators, Recreation & Hobbies Moderators Posts: 22,430 CMod ✭✭✭✭Pawwed Rig


    Are you talking about USC? There is no tax exemption for < €10K.


  • #3
    relax carry on
    Registered Users, Registered Users 2 Posts: 4,113 ✭✭✭relax carry on


    Kirby2k07 wrote: »
    Question is in the title really. I'm still in my first degree as a full time student under 23, and since the start of the tax year (last December) I've worked three different taxed jobs. By the time I reach November of this year I will have earned about €10,500. Will this mean that I have to pay a huge amount of tax because I've crossed the 10K line?
    Lil confused here if anyone knows the craic

    Tax year is January to December. Assuming you are single with no other taxable sources of income, your standard rate band and standard tax credits will mean you can earn up to 16500 in a year in a PAYE job without paying paye tax. USC and PRSI are different. I'd recommend some reading.

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


  • #4
    Gooser14
    Registered Users, Registered Users 2 Posts: 1,670 ✭✭✭Gooser14


    Pawwed Rig wrote:
    Are you talking about USC? There is no tax exemption for < €10K.


    The following text is from the Citizens Information Web site: "Income of €13,000 or less are exempt from USC in 2016. Once your income is over this limit, you pay the relevant rate of USC on all of your income. Note that the threshold for the lowest (1%) rate continues to be €12,012. If you have income of €13,000 you pay no USC. If you have income of €13,001 you pay 1% on income up to €12,012 and 3% on income between €12,012 and €13,001."


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