Assessable Spouse Election Form

sashab · 13-04-2018 5:13pm #1

Can someone help me with this. Since my wife just start working (mostly part time) how should I fill this out.
This is form they told us we need to fill https://www.revenue.ie/en/life-events-and-personal-circumstances/documents/assessable-spouse-election-form.pdf
Under b what should we choose? I earn currently under 33K and she only work part time so it's under 22K. But I am going to earn more than 40K in next couple of months so what should I fill? Thanks

Jen Pigs Fly · 13-04-2018 5:15pm

You take the higher rate band of 43550. And leave her with the 25,550 rate band, that means you're both taxed at 20%

Leave your credits 50/50 at 3300 each as if you move them it won't make a difference, what she pays more in tax you'll pay the exact same amount less so isn't worth the week 1 certs that will issue

sashab · 13-04-2018 5:25pm

Yeah sorry but I have no idea what did you say to me

I have 0 knowledge anything related with finance, could you point me more what to put exactly at which field on form?

Jen Pigs Fly · 13-04-2018 5:28pm

In part b out for tax credits as 3300 for you (assessable) and 3300 for spouse
And for standard rate band put in 43550 for you and 25550 for your spouse.

Your spouse will earn under 25550 for the year so they will be taxed at 20% however they will use all of the tax credits given so leave as it is. It means all of your 40k income will also be taxed at 20%

sashab · 13-04-2018 5:31pm

And until I start earning more than 30K I will be taxed same as now normally?

Jen Pigs Fly · 13-04-2018 5:54pm

sashab wrote: »

And until I start earning more than 30K I will be taxed same as now normally?

That rate band will allow you to earn 43550 now and still be taxed normally, it means you can earn more and pay 20% tax than before. So once you earn over 43550 then you'll start paying tax at the higher rate

sashab · 13-04-2018 6:07pm

Ok if you think that this is best option I will do like that. Just quick, what if I don't start earning more than 40K and let's say stay around 35K? But my wife will be still under about 20K, should I leave everything same? Thank you very much for help.

allthedoyles · 13-04-2018 10:01pm

You would only change if your wife's annual income dropped to around the €8250 mark.

Assessable Spouse Election Form

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