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Joint Assessment?

  • 04-10-2016 12:38pm
    #1
    Adoolan85
    Registered Users, Registered Users 2 Posts: 100 ✭✭


    Hi,

    Just got married at the beginning of September and so am trying to familiarize myself with the whole tax situation.

    I currently earn €32K per year and my wife has recently left work and returned to college.

    Am I correct in thinking being 'jointly assessed' would be of no benefit to us as I already come in under the standard rate cut off point of €33800?

    Any advise would be greatly appreciated, thanks.


Comments

  • #2
    lawred2
    Registered Users, Registered Users 2 Posts: 24,558 ✭✭✭✭lawred2


    Does she lose her PAYE credit? You could transfer all her credits beyond the personal credit to yourself.

    But you can do nothing with the bands


  • #3
    Adoolan85
    Registered Users, Registered Users 2 Posts: 100 ✭✭Adoolan85


    lawred2 wrote: »
    Does she lose her PAYE credit? You could transfer all her credits beyond the personal credit to yourself.

    But you can do nothing with the bands

    Well she was working the first half of the year so not sure what that means for her PAYE credits.

    So personal credit cannot be transferred over then? What other credits might be transferable?

    She is not claiming anything out of the ordinary as far as i know.


  • #4
    Hopeful2016
    Closed Accounts Posts: 430 ✭✭Hopeful2016


    lawred2 wrote: »
    Does she lose her PAYE credit? You could transfer all her credits beyond the personal credit to yourself.

    But you can do nothing with the bands

    This isn't strictly true. It may be the case that she has used her full standard rate tax band herself for the current year, in which case it won't be available to you however if she is not working next year or only working part time then some of her standard rate band can be claimed by you. Look up Revenue website for the up to date figures as they may have changed since I last looked but I think it is around €9k of her standard rate tax band that could be available to you. If she hasn't exceeded her standard rate band in 2016 you may be able to claim a refund at the end of the year. Would advise checking out the revenue website.


  • #5
    lawred2
    Registered Users, Registered Users 2 Posts: 24,558 ✭✭✭✭lawred2


    Hopeful2016 wrote: »
    This isn't strictly true. It may be the case that she has used her full standard rate tax band herself for the current year, in which case it won't be available to you however if she is not working next year or only working part time then some of her standard rate band can be claimed by you. Look up Revenue website for the up to date figures as they may have changed since I last looked but I think it is around €9k of her standard rate tax band that could be available to you. If she hasn't exceeded her standard rate band in 2016 you may be able to claim a refund at the end of the year. Would advise checking out the revenue website.

    He doesn't pay tax at the higher rate so how could her low rate band be of any use to him?


  • #6
    Adoolan85
    Registered Users, Registered Users 2 Posts: 100 ✭✭Adoolan85


    lawred2 wrote: »
    He doesn't pay tax at the higher rate so how could her low rate band be of any use to him?

    That was my line of thinking.

    Are there any other obvious credits apart from personal that could be transferred over to myself?


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  • #7
    lawred2
    Registered Users, Registered Users 2 Posts: 24,558 ✭✭✭✭lawred2


    Adoolan85 wrote: »
    That was my line of thinking.

    Are there any other obvious credits apart from personal that could be transferred over to myself?

    there aren't many - (quelle surprise) especially when she won't be working

    rent?

    Given that she's going back to college you can maybe claim some rebates on tuition fees...


  • #8
    Adoolan85
    Registered Users, Registered Users 2 Posts: 100 ✭✭Adoolan85


    lawred2 wrote: »
    there aren't many - (quelle surprise) especially when she won't be working

    rent?

    Given that she's going to back to college you can maybe claim some rebates on tuition fees...

    We have a mortgage on our home, so no rent.

    I will look into the tuition fees, we maybe able to claim some relief on that.

    Cheers for the info.


  • #9
    Hopeful2016
    Closed Accounts Posts: 430 ✭✭Hopeful2016


    lawred2 wrote: »
    He doesn't pay tax at the higher rate so how could her low rate band be of any use to him?

    Apologies, I missed what he was earning! In bed sick so I'll blame it on that :o the advice stands should he get a raise to bring him over the €33.8k while she is still in college.


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