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Maternity Leave/Splitting Tax Credits

  • 26-09-2018 3:50pm
    #1
    Squall Leonhart
    Closed Accounts Posts: 1,794 ✭✭✭


    My wife is employed in a low-income job at present, but there is maternity cover above the statutory minimum.

    She is considering options for working elsewhere as the job is demanding, very tiring and not well paid. Most places that pay similar would not offer more than statutory minimum maternity pay, which is 235/wk I think? She satisfies the required number of PRSI payments.

    We are wondering about going joint assessed for income tax purposes. If she goes on maternity leave, could we then assign me some of her tax credits to boost my take home, while leaving hers unaffected as the 235/wk would be very low to be paying any income tax on?


Comments

  • #2
    Callymosh
    Registered Users, Registered Users 2 Posts: 12 ✭Callymosh


    Squall Leonhart wrote: »
    My wife is employed in a low-income job at present, but there is maternity cover above the statutory minimum.

    She is considering options for working elsewhere as the job is demanding, very tiring and not well paid. Most places that pay similar would not offer more than statutory minimum maternity pay, which is 235/wk I think? She satisfies the required number of PRSI payments.

    We are wondering about going joint assessed for income tax purposes. If she goes on maternity leave, could we then assign me some of her tax credits to boost my take home, while leaving hers unaffected as the 235/wk would be very low to be paying any income tax on?

    Yes, you can. I’m on illness benefit and will be switching to maternity in December.
    I signed my surplus credits over to my husband last February and it has really helped us out.
    There’s a form you need to fill in to get jointly assessed-once you get that in, the change happens very quickly.
    I rang the social welfare first to query exactly how much tax credits I needed to keep for myself before submitting the form. I wanted to be really sure I wasn’t doing myself out of credits down the line.
    It’s all worked out for us though.

    Good luck


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