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Captial Allowances

  • 12-10-2016 10:27PM
    #1
    Registered Users, Registered Users 2 Posts: 5


    Hi

    when I am deducting capital allowances which is the proper calculation assuming profit is 7000 & capital allowances is 1875?

    a) 7000 x 41% = 2870
    - 1875
    tax liable = 995

    or
    b) 7000-1875= 5125
    x41%
    tax liable = 2101.25


    thank uou


Comments

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


    B.

    It's income tax @ 40%
    PRSI @ 4%
    pre capital allowances @ 5.5%


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