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Casual on-line work tax implications

  • 22-01-2017 7:04pm
    #1
    nachos
    Registered Users, Registered Users 2 Posts: 400 ✭✭


    Hi,

    My wife work's in a temporary full-time job earning €24000. She has started doing some online audio transcription work online. She gets paid through PayPal and earns around €400 a month for it. She isn't employed for the transcription work, it's as a contractor.

    What are the tax implications of this? Does this income need to be declared?

    Thanks!


Comments

  • #2
    Tigger
    Closed Accounts Posts: 16,705 ✭✭✭✭Tigger


    yes
    yes it does


  • #3
    Stheno
    Moderators, Business & Finance Moderators, Science, Health & Environment Moderators, Society & Culture Moderators Posts: 51,690 Mod ✭✭✭✭Stheno


    nachos wrote: »
    Hi,

    My wife work's in a temporary full-time job earning €24000. She has started doing some online audio transcription work online. She gets paid through PayPal and earns around €400 a month for it. She isn't employed for the transcription work, it's as a contractor.

    What are the tax implications of this? Does this income need to be declared?

    Thanks!

    Yes. She will need to do a tax return and include both her 24k income and the 400 per month to calculate her full liability. Including paye, prsi and usc she is liable for about 26% of the 400 in total so she should set that aside each month


  • #4
    allthedoyles
    Registered Users, Registered Users 2 Posts: 6,893 ✭✭✭allthedoyles


    Also when she has received approximately €2500 through Paypal , she will be asked to confirm her identity with photo id ,documents etc .

    Plus later on in the year when Paypal are processing Form 46G ,( Return of Third Party Information ) you can be sure her name will be on it .( if she has received something in the region of €4,000 in a tax year )


  • #5
    barneystinson
    Registered Users, Registered Users 2 Posts: 4,686 ✭✭✭barneystinson


    allthedoyles wrote: »
    Also when she has received approximately €2500 through Paypal , she will be asked to confirm her identity with photo id ,documents etc .

    Plus later on in the year when Paypal are processing Form 46G ,( Return of Third Party Information ) you can be sure her name will be on it .( if she has received something in the region of €4,000 in a tax year )

    Why would PayPal include her on a 46G?? She's not working for them or being paid by them.


  • #6
    allthedoyles
    Registered Users, Registered Users 2 Posts: 6,893 ✭✭✭allthedoyles


    barneystinson wrote: »
    Why would PayPal include her on a 46G?? She's not working for them or being paid by them.

    Its true , Paypal let you look after your own tax responsibilities


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  • #7
    barneystinson
    Registered Users, Registered Users 2 Posts: 4,686 ✭✭✭barneystinson


    allthedoyles wrote: »
    Its true , Paypal let you look after your own tax responsibilities

    :confused:


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