Understanding payslip

easygoing1982 · 02-12-2016 11:59pm #1

On my payslip there is annual cop €10000. I was told if my Y.T.D which is €200 below this at moment goes about the €10000 I'll get taxed more. Is this correct and if so can the tax be claimed back or anything.

The figures above are made up for the example.

Thanks

allthedoyles · 03-12-2016 12:06am

The cut off point decides your rate of tax to pay whether that is 0% - 20% - 40%

easygoing1982 · 03-12-2016 12:11am

allthedoyles wrote: »

The cut off point decides your rate of tax to pay whether that is 0% - 20% - 40%

So I'll be paying 40%?

Mrs OBumble · 03-12-2016 12:34am

Op says

The figures above are made up for the example.

OP you only get charged the higher rate on income over the COP, so you will have more money.

exaisle · 03-12-2016 7:28am

OP...you may be paying at the higher rate already. Or you may not.

The Cut off Point is cumulative, you get 1/52nd of it each week...so if your earnings haven't changed over the year and you haven't paid any Income Tax at 40%, then it's unlikely you will now.

However, for example, if you receive a Christmas bonus, then you may pay some tax at 40% but as Mrs OBumble says, you'll have more money anyhow...

Have look here:-

http://www.revenue.ie/en/business/paye/guide/employers-guide-paye-calculation.html#section4

Carawaystick · 05-12-2016 4:42pm

There's also the usc threshold, where if you earn a penny more than 13000 per annum you have to pay 149 euros usc...

easygoing1982 · 05-12-2016 5:20pm

Carawaystick wrote: »

There's also the usc threshold, where if you earn a penny more than 13000 per annum you have to pay 149 euros usc...

You had better tell the tax man

Swish87 · 14-09-2020 2:11pm

My wife is a doctor and has just been charged around 150 more on her ASC pension than any of her peers.

Anybody have any explanation as to how this happens?

Regards

Geuze · 14-09-2020 7:44pm

Swish87 wrote: »

My wife is a doctor and has just been charged around 150 more on her ASC pension than any of her peers.

Anybody have any explanation as to how this happens?

Regards

She earned more than them?

namenotavailablE · 14-09-2020 8:32pm

Is this a new development compared to prior pay periods or has she just started in the role?

If she benefits from 'fast accrual' (basically, if her position allows her to retire early- typically guards, firemen, military often benefit) she could be charged a higher ASC rate. See this document (possibly page 4 and 9 might be the key parts):

https://circulars.gov.ie/pdf/circular/per/2018/21.pdf

Understanding payslip

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