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Tax basis mean?

  • 16-02-2017 10:43am
    #1
    Dressoutlet
    Closed Accounts Posts: 309 ✭✭


    Can someone tell me what does tax basis 1 and tax basis 0 mean. I have 2 different payslips one says tax basis 1 the other tax basis 0. What do they mean?


Comments

  • #2
    gerrybbadd
    Registered Users, Registered Users 2 Posts: 10,301 ✭✭✭✭gerrybbadd


    Dressoutlet wrote: »
    Can someone tell me what does tax basis 1 and tax basis 0 mean. I have 2 different payslips one says tax basis 1 the other tax basis 0. What do they mean?

    You'll have to ask your employer, because these aren't Revenue terms


  • #3
    toadfly
    Registered Users, Registered Users 2 Posts: 3,412 ✭✭✭toadfly


    Dressoutlet wrote: »
    Can someone tell me what does tax basis 1 and tax basis 0 mean. I have 2 different payslips one says tax basis 1 the other tax basis 0. What do they mean?

    You will have to ask your employer to be completely sure but I would guess:

    Tax Basis 1 = week 1 (taxed based on individual week rather than year to date)

    Tax Basic 0 = Cumulative basic (recalculated every week/month for the year to date


  • #4
    Dressoutlet
    Closed Accounts Posts: 309 ✭✭Dressoutlet


    If Im on week one basis can i call Revenue and ask them to put me on cumulative?


  • #5
    CIARAN_BOYLE
    Registered Users, Registered Users 2 Posts: 14,599 ✭✭✭✭CIARAN_BOYLE


    Dressoutlet wrote: »
    If Im on week one basis can i call Revenue and ask them to put me on cumulative?
    It depends on why you are on week one. They will be able to tell you what you need to do to be moved onto cumulative.


  • #6
    toadfly
    Registered Users, Registered Users 2 Posts: 3,412 ✭✭✭toadfly


    Dressoutlet wrote: »
    If Im on week one basis can i call Revenue and ask them to put me on cumulative?

    As above, there must be a reason you are on week 1. You will need to call and ask.


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  • #7
    Dressoutlet
    Closed Accounts Posts: 309 ✭✭Dressoutlet


    I rang revenue and they said a new tax credit certificate had recently been sent. I asked if it was cumulative and the girl said yes it was. The question I have now is does that mean tax credits are carried over for the weeks I haven't worked. So I haven't worked Jan or Feb but will be working March so does my srcop and tax credit for the 10 weeks I haven't worked roll over so I will pay very little amount of tax in march?


  • #8
    toadfly
    Registered Users, Registered Users 2 Posts: 3,412 ✭✭✭toadfly


    Dressoutlet wrote: »
    I rang revenue and they said a new tax credit certificate had recently been sent. I asked if it was cumulative and the girl said yes it was. The question I have now is does that mean tax credits are carried over for the weeks I haven't worked. So I haven't worked Jan or Feb but will be working March so does my srcop and tax credit for the 10 weeks I haven't worked roll over so I will pay very little amount of tax in march?

    Yes thats correct.


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