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Taxation married couple..

  • 08-10-2016 7:42pm
    #1
    micks_address
    Registered Users, Registered Users 2 Posts: 8,998 ✭✭✭


    Hi folks,
    I'm currently claiming both our tax credits as my wife has been a homemaker last couple of years. She is taking up a sna post in a school in few weeks and just wondering during how things will work tax wise. My salary would be significantly more so is it possible to keep the credits against my salary?
    I'm guessing her income will be below taxable income. Just concerned any changes might dramatically increase the amount of tax out of my pay which would impact income.
    Thanks
    Mick


Comments

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


    micks_address wrote: »
    Hi folks,
    I'm currently claiming both our tax credits as my wife has been a homemaker last couple of years. She is taking up a sna post in a school in few weeks and just wondering during how things will work tax wise. My salary would be significantly more so is it possible to keep the credits against my salary?
    I'm guessing her income will be below taxable income. Just concerned any changes might dramatically increase the amount of tax out of my pay which would impact income.
    Thanks
    Mick

    There's no below taxable income threshold. What happens is through a combination of tax credits and standard rate band most single people can earn 16500 euro without paying paye.
    I'm assuming you have taken your spouses personal tax credit and 9000 euro of their rate band. The remaining paye tax credit and rate band are non transferable. This will allow your spouse to earn up to 8250 without paying paye.

    The above assumes that you aren't claiming the home carer's tax credit. If you are, contact Revenue with your both your own and your spouses projected earnings to the end of the year and ask them to allocate the credits and rate band in the most efficient manner.


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