Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie
Hi there,
There is an issue with role permissions that is being worked on at the moment.
If you are having trouble with access or permissions on regional forums please post here to get access: https://www.boards.ie/discussion/2058365403/you-do-not-have-permission-for-that#latest

Question about tax saver ticket

  • 16-10-2017 2:56am
    #1
    nsa0bupkd3948x
    Closed Accounts Posts: 783 ✭✭✭


    I started a new job this month. I won't hit the higher tax rate this year as I'll only be working 2 1/2 months. However, next year I'll be paying the higher rate.

    If I buy an annual tax saver ticket next month, does the full annual cost get deducted from my pretax salary - so would I only save the 20% and not 40%?


Comments

  • #2
    spurious
    Moderators, Category Moderators, Education Moderators Posts: 27,327 CMod ✭✭✭✭spurious


    This time of year you would order next year's ticket. I think you'll just have to cover the two months and get monthly tickets now.

    Next year you will save the 42%


  • #3
    EverythingGood
    Registered Users, Registered Users 2 Posts: 2,003 ✭✭✭EverythingGood


    Vincenzo Puny Tattoo wrote: »
    I started a new job this month. I won't hit the higher tax rate this year as I'll only be working 2 1/2 months. However, next year I'll be paying the higher rate.

    If I buy an annual tax saver ticket next month, does the full annual cost get deducted from my pretax salary - so would I only save the 20% and not 40%?

    Takes my company 2 months to process a ticket. Apply for it, and ask that it comes into effect 1st Jan 18. Just take the hit for Nov and Dec by buying it yourself.


  • #4
    ibarelycare
    Registered Users, Registered Users 2 Posts: 58,456 ✭✭✭✭ibarelycare


    Is the ticket going to be deducted all in one go, or over the course of the year? In most cases it's deducted over 12 months. So it's worth getting it now if you can. You'll save your marginal rate for 2017 for the next two months, and then your marginal rate for 2018 over the remaining 10 months.

    BTW the deduction comes before PRSI and USC are deducted too so you're actually likely to be saving close to 30% for the next two months and close to 50% in 2018


Advertisement