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Tax on overtime

  • 21-03-2018 3:01am
    #1
    masterboy123
    Registered Users, Registered Users 2 Posts: 5,915 ✭✭✭


    Hi,

    I have noticed i pay a huge chunk in taxes if i receive my overtime hours paid at a later date when it's accumulated with next month's overtime.

    I got 56% in net pay of my Gross pay after taxes, USC, PRD, PRSI and pension contributions. So 44% deducted in taxes, etc.

    On basic pay when overtime is not included I pay only 32% in taxes, etc.

    My question is if overtime hours are paid on time and not accumulated for 2 months, will i cash out more money?


Comments

  • #2
    endacl
    Registered Users, Registered Users 2 Posts: 22,410 ✭✭✭✭endacl


    Will balance out over the year. You can check when you get your p60 and claim back any overpayments.


  • #3
    masterboy123
    Registered Users, Registered Users 2 Posts: 5,915 ✭✭✭masterboy123


    Ah ok, i did get about €400 back last month from tax year 2017. As long as it balances out at the end of the year then it's fine.
    Thanks for the help.
    endacl wrote: »
    Will balance out over the year. You can check when you get your p60 and claim back any overpayments.


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