Declaring tax

sickofthis

Hi
Just looking for advice.
My husband and I are jointly taxed and I am trying to figure out the form I would use to delare the earnings I had from some casual work done in 2015. I made a very small amount and spent probably the same on materials but know that I must declare it anyway even if Im not eligible to pay anything on it but Im confused as to which form I should be filling out to do so?

bbari

The form is called form12. You can fill in all the information by logging on to mypaye. The registration process of mypaye is pretty simple.

faceman

sickofthis wrote: »

Hi
Just looking for advice.
My husband and I are jointly taxed and I am trying to figure out the form I would use to delare the earnings I had from some casual work done in 2015. I made a very small amount and spent probably the same on materials but know that I must declare it anyway even if Im not eligible to pay anything on it but Im confused as to which form I should be filling out to do so?

If you had expenses relating to the work then they're tax deductible. Just hang on to the receipts. (You don't have to attach the receipt with your tax return)

exaisle

Assuming your taxable profit is less than €3174 for the year, you can complete a form 12. If it's over that amount, you should complete a form 11.

Bear in mind that not all expenses are tax deductible(eg you can't deduct entertainment expenses in computing your taxable profit and you cannot deduct various other expenses).

Bear also, that if you made a tax loss you may be able to offset it against your other income.

If you're unsure, I'd suggest engaging the services of an accountant...

shugy

exaisle wrote: »

Assuming your taxable profit is less than €3174 for the year, you can complete a form 12. If it's over that amount, you should complete a form 11.

Bear in mind that not all expenses are tax deductible(eg you can't deduct entertainment expenses in computing your taxable profit and you cannot deduct various other expenses).

Bear also, that if you made a tax loss you may be able to offset it against your other income.

If you're unsure, I'd suggest engaging the services of an accountant...

Wht actually is taxable profit! Is it anything one makes after his expenses have been deducted. If so, how anyone is supposed to live on 3174 a year is crazy! Anything over 3174 is taxed. It should be, earn 15k and live of that then taxed on anything over!

barneystinson

shugy wrote: »

Wht actually is taxable profit! Is it anything one makes after his expenses have been deducted. If so, how anyone is supposed to live on 3174 a year is crazy! Anything over 3174 is taxed. It should be, earn 15k and live of that then taxed on anything over!

Read what he wrote - he's answering a question about what tax return is required, nowhere does it say that 3,174 is the point where a person starts paying income tax.