Gross pay vs take home

Mary2221

Hi be offered new job 500 gross it pay would anyone know roughly what would that be in take home i am single with no dependent/living at home .hope it be more than 430 ? Thank

sReq | uTeK

Mary2221 wrote: »

Hi be offered new job 500 gross it pay would anyone know roughly what would that be in take home i am single with no dependent/living at home .hope it be more than 430 ? Thank

Depends on a lot of factors. Is thia monthly ?

Whats your earnings at the moment...because tax is a factor, 500 lower or higher is different.

500 at 42% tax equates to an additional 290 home...does this cover your new travel expenses, if any?

Is it a more stressful job, is that worth 290quid

purpleisafruit

Deloitte Tax Calculator is generally quite accurate

Ronney

Take home 429.56 a week for 500 gross

I love Sean nos

Just about. According to this, you'd come out with €432 a week.

Assumed that you're full time on €500 a week = €26k per year. Put your age as 21. Not sure what difference that makes.

nhunter100

sReq | uTeK wrote:

500 at 42% tax equates to an additional 290 home...does this cover your new travel expenses, if any?

The gross is 500 per week/26k per annum. High rate of tax kicks in at 34k.
OP will pay tax at 20% less tax credit .

ice.cube

sReq | uTeK wrote: »

Depends on a lot of factors. Is thia monthly ?

Whats your earnings at the moment...because tax is a factor, 500 lower or higher is different.

500 at 42% tax equates to an additional 290 home...does this cover your new travel expenses, if any?

Is it a more stressful job, is that worth 290quid

Strange conclusions to come to based on the info provided.

spurious

500 a week will be no more than 26000 or so a year.

Depending on your circumstances, you should have tax credits of about 3300.
You need to get the credits sorted with the tax office so thay can let your employer know what to deduct.

You will also have USC and PRSI deductions. You will pay tax at 20% as you will not reach the higher rate.

Running a 26k salary through an online tax calculator, gives the following:

Effective salary for year €26,000.00
Taxable Income €26,000.00
PAYE - Standard Rate €5,200.00
Total Tax Bourne €5,200.00
Tax Credits €3,300.00
PAYE Payable €1,900.00
PRSI €1,040.00
Universal Social Charge €590.46
Total Payable €3,530.46
Net Salary €22,469.54

So, your in the hand money each month would be about 1870, or 467 or so a week.

This is all very rough and depends on your own allowances and situation.

Mary2221

Thank for reply yes it 500 gross weeky .ok i be happy enough with that if i come out with around 430 mark because there 130 of meal allowance which he said is tax free ,so take home pay be around 550/560 mark .

Uncle Mclovin

I love Sean nos wrote: »

Just about. According to this, you'd come out with €432 a week.

Assumed that you're full time on €500 a week = €26k per year. Put your age as 21. Not sure what difference that makes.

The reason they ask your age is that if you are over 66 you don't pay PRSI and if you are over 70 you have reduced USC provided your income isn't excess of €60k.

EndaHonesty

Mary2221 wrote: »

Thank for reply yes it 500 gross weeky .ok i be happy enough with that if i come out with around 430 mark because there 130 of meal allowance which he said is tax free ,so take home pay be around 550/560 mark .

There is a meal allowance of 130 per week? Tax free?

I would say there is no way you are getting an extra 130 euros per week tax free. You should check with the boss again...

ellobee

spurious wrote: »

500 a week will be no more than 26000 or so a year.

Depending on your circumstances, you should have tax credits of about 3300.
You need to get the credits sorted with the tax office so thay can let your employer know what to deduct.

You will also have USC and PRSI deductions. You will pay tax at 20% as you will not reach the higher rate.

Running a 26k salary through an online tax calculator, gives the following:

Effective salary for year €26,000.00
Taxable Income €26,000.00
PAYE - Standard Rate €5,200.00
Total Tax Bourne €5,200.00
Tax Credits €3,300.00
PAYE Payable €1,900.00
PRSI €1,040.00
Universal Social Charge €590.46
Total Payable €3,530.46
Net Salary €22,469.54

So, your in the hand money each month would be about 1870, or 467 or so a week.

This is all very rough and depends on your own allowances and situation.

Slight problem with your monthly/weekly calculations, you cant just divide the monthly figure by 4 as this would only give you 48 weeks,
so 1870 x 12 = 22440 / 52 = 432 so yes you should take home approx 430

bmwguy

EndaHonesty wrote: »

There is a meal allowance of 130 per week? Tax free?

I would say there is no way you are getting an extra 130 euros per week tax free. You should check with the boss again...

It's the 24 Euro subsistence rate which as far as I remember is for working 10 hour days away from usual place of work.

bmwguy

sReq | uTeK wrote: »

Depends on a lot of factors. Is thia monthly ?

Whats your earnings at the moment...because tax is a factor, 500 lower or higher is different.

500 at 42% tax equates to an additional 290 home...does this cover your new travel expenses, if any?

Is it a more stressful job, is that worth 290quid

This is the problem with public forums, what kind of advice is that? That post is absolute garbage. You have just told the OP they will be taxed 210 Euro a week on their 500 Euro.

In fact it's about 70 Euro.

ellobee

bmwguy wrote: »

This is the problem with public forums, what kind of advice is that? That post is absolute garbage. You have just told the OP they will be taxed 210 Euro a week on their 500 Euro.

In fact it's about 70 Euro.

haha! yeah I had to read that a few times to try and understand what he was on about, I think he was under the impression that the op was getting an extra 500 in their wages which is why it could all be taxed at the higher rate, but as to why he asks about travel expenses or stress when op never said anything is beyond me.