Calculate tax prsi and usc

hammerdub

Can anybody set out the calculations on €1335.00 monthly earnings for tax , prsi and usc. Thanks.

Stheno

hammerdub wrote: »

Can anybody set out the calculations on €1335.00 monthly earnings for tax , prsi and usc. Thanks.

http://services.deloitte.ie/tc/

Multiply the monthly figure by twelve and put it in the calculator

hammerdub

I was looking for the actual breakdown and how it was calculated. I was deducted tax € 42.81, usc €11.73 and prsi of € 53.48. I cannot figure out how this was calculated. And I suspect it may be wrong.

mel.b

I know it won't help the OP, but I find the calculator at taxcalc.ie good as it gives you the option of selecting public servant which then takes into account the pension levy. Other calculators don't do this.

Stheno

hammerdub wrote: »

I was looking for the actual breakdown and how it was calculated. I was deducted tax € 42.81, usc €11.73 and prsi of € 53.48. I cannot figure out how this was calculated. And I suspect it may be wrong.

Using the c calculator if you are single those are wrong

Is this your first job?

hammerdub

No this is not first job. I' m semi retired just doing a bit of work to get a few bob in. Ive no other income wife retired. Can you calculcate for me what I should be paying. I recon usc should be around half of what ive been deducted and prsi should be around quarter or less than above figures. If anyone can show me how to get correct figures I would deeply appreciate it.

wiggle16

Hi OP

PRSI: it can depend on what you are doing, but PRSI is 4% for most people, and without any more info I have to assume this is your rate.

1335 ÷ 4% = 53.40 PRSI

USC:
The first 1001 is charged at 0.5% (=€5)
The rest, 334, is charged at 2% (=€6.68)

So USC due would be 11.68

TAX: It won't be possible for anyone here to calculate your tax because I assume you are on a pension of some sort since you're retired. If that is taken into account on your tax credit cert, it's going to be eating up your credits and rate band and so it's likely that some or all of that 1335 is being charged at 40%, instead of 20%, and the pension is using at least some of your credits, so you're paying some tax on the new job. I would therefore make an educated guess that the €42.81 is correct.

You'll really have to look at your credit cert to know, but it looks like the deductions made are bang on the mark.

hammerdub

wiggle16 wrote: »

Hi OP

PRSI: it can depend on what you are doing, but PRSI is 4% for most people, and without any more info I have to assume this is your rate.

1335 ÷ 4% = 53.40 PRSI

USC:
The first 1001 is charged at 0.5% (=€5)
The rest, 334, is charged at 2% (=€6.68)

So USC due would be 11.68

TAX: It won't be possible for anyone here to calculate your tax because I assume you are on a pension of some sort since you're retired. If that is taken into account on your tax credit cert, it's going to be eating up your credits and rate band and so it's likely that some or all of that 1335 is being charged at 40%, instead of 20%, and the pension is using at least some of your credits, so you're paying some tax on the new job. I would therefore make an educated guess that the €42.81 is correct.

You'll really have to look at your credit cert to know, but it looks like the deductions made are bang on the mark.

Cheers thanks very much for your reply it was very helpful.

allthedoyles

I don't think you should pay PRSI on 1335e monthly pay as the deduction starts at 1525e .

You should look at your tax credit cert first as this is the basis of all other calculations .

wiggle16

allthedoyles wrote: »

I don't think you should pay PRSI on 1335e monthly pay as the deduction starts at 1525e .

You should look at your tax credit cert first as this is the basis of all other calculations .

The OP will pay PRSI on it if he is already in receipt of a pension, which will bring his actual monthly pay over 1335 and certainly over 1525. But as you say, best to look at the tax credit cert.

namenotavailablE

Some links to online calculators which may help with such queries:

Karl Grabe's web app is good for a quick calculation: http://taxcalc.eu
I've an Excel spreadsheet located at Karl's site: http://taxcalc.eu/monthlyss
Hookhead's calculator is at http://www.virtualaccountant.ie/Tools/tax2018.jsp
Deloittes: http://services.deloitte.ie/tc/
Taxcalc.ie: http://taxcalc.ie/budget-2018/

allthedoyles

wiggle16 wrote: »

The OP will pay PRSI on it if he is already in receipt of a pension, which will bring his actual monthly pay over 1335 and certainly over 1525. But as you say, best to look at the tax credit cert.

I always believed PRSI to be a stand-alone deduction on a single payslip , so I can't see why he should pay any, plus I don't believe the OP should pay PRSI on pension unless its been deducted on the same payslip and it drives his gross pay over the limit of 1525e monthly .

hammerdub

allthedoyles wrote: »

I always believed PRSI to be a stand-alone deduction on a single payslip , so I can't see why he should pay any, plus I don't believe the OP should pay PRSI on pension unless its been deducted on the same payslip and it drives his gross pay over the limit of 1525e monthly .

Just to clarify €1335.00 per month is my only income, I should have said I work part time ( I count myself semi retired). My wife is retired and has a pension. Thanks again to all for replies.

namenotavailablE

On monthly earnings of €1335 gross (with absolutely no other income) and assuming that you receive the 'typical' tax credits/ standard rate band (€3300 pa and €34550 pa respectively) and are employed in the private sector I'd calculate as follows:

PAYE per month: Nil
PRSI per month: Nil
USC per month: €11.69

However, as noted above, you'd particularly need to know the values of your tax credits to be absolutely sure about the tax value. I'd agree with allthedoyles that the PRSI value seems incorrect on those earnings.

EDIT: The above values were for 2018 but I see now that the OP was asking about 2017. Squatter's post #16 is correct for 2017.

hammerdub

Thanks again for all your replies.
I have done a bit of rootng and found tax credit certificates for 2017.My monthly tax credits were € 204.17. My wifes tax credits were € 345.84 . Her monthly inome is € 1704.91which is a pension. And as I say my monthly income is €1335.00.
I hope this may help if there is any other infrmation needed please let me kmow. Thanks aain to all.

Squatter

hammerdub wrote: »

I have done a bit of rootng and found tax credit certificates for 2017.

My monthly tax credits were € 204.17.

My wifes tax credits were € 345.84 . Her monthly inome is € 1704.91 which is a pension.

And as I say my monthly income is €1335.00.

Tax credits, annualised for 2017.

Him: 204.17 * 12 = 2450

Her: 345.82 * 12 = 4150

Combined Total: = €6600. (which seems correct)

So looking at your ANNUALISED income:-

€1,335 * 12 = €16,020. PAYE: €16,020 * 20% = €3204

subtract your tax credit of €2,450, leaving you with tax payable of €754 for the year.

So the monthly amount of tax is €754/12 or €62.83

USC on €16,020 in 2017 was

on first 12012, 0.5% = 60.06, and on the balance 2.5% = 100.20

Total 160.26, which equals €13.36 per month

Your liability for PRSI Class A appears to be nil as your income is below €352 per week.

namenotavailablE

Worth checking if you and your wife are entitled to the 'Age credit'- worth €245 each if either person is over 65.
More details here.

hammerdub

namenotavailabl wrote: »

Worth checking if you and your wife are entitled to the 'Age credit'- worth €245 each if either person is over 65.
More details here.

Yes my wife is over 65 so thanks for that.