Home carer tax credit

Talula_d

Hi, just wondering if anyone knows anything about the above tax credit?

Would we be entitled to it as we are unmarried but have two children and cohabiting the last 4 years, I am currently unemployed.

Many thanks for any answers!

Heisenburg81

Talula_d wrote: »

Hi, just wondering if anyone knows anything about the above tax credit?

Would we be entitled to it as we are unmarried but have two children and cohabiting the last 4 years, I am currently unemployed.

Many thanks for any answers!

Not entitled to it as not married.
Not entitled to single person child carer credit either as cohabiting.

Summer8181

I would like some advise here. Married couple. Receiving incapacitated tax credit & half rate carers allowance as wife is on invalidy pension.

Question is should I apply for home carers tax.
I read online that I shouldn't as I will be taxed at 40% earlier. I received it last year but I think it meant I paid more tax. I see it is not on my tax credits for 2019. Is this revenue telling me that I'm better off without it.

So confused. Does it depend on how much I earn?

Thanks in advance

Summer8181

Anyone know the answer to my question above?

Ninthlife

Summer8181 wrote: »

I would like some advise here. Married couple. Receiving incapacitated tax credit & half rate carers allowance as wife is on invalidy pension.

Question is should I apply for home carers tax.
I read online that I shouldn't as I will be taxed at 40% earlier. I received it last year but I think it meant I paid more tax. I see it is not on my tax credits for 2019. Is this revenue telling me that I'm better off without it.

So confused. Does it depend on how much I earn?

Thanks in advance

As the pension is deemed a taxable income and if its above the threshold of 9,000 then you would not qualify for home carers tax credit on the basis of your Spouses income

Summer8181

Ok. Can you please help me calculate my wages? 44k basic plus €660 per month for BIK.

Can you also break it down how it is calculated. Is the majority @40% ?

Is there anyway I can increase my monthly salary?

Ninthlife

Summer8181 wrote: »

Ok. Can you please help me calculate my wages? 44k basic plus €660 per month for BIK.

Can you also break it down how it is calculated. Is the majority @40% ?

Is there anyway I can increase my monthly salary?

It will depend on the apportionment of your standard rate cut off between you and your Spouse.

If you have the transferrable amount of your wifes cut off you should be avle yo earn 43,550 per year @20% with the balance charged @ 40%

Check your tax credit cert for 2019 to see what your credits and rate band are or speak to payroll

Summer8181

Great thank you very much. I think I read somewhere that 44,000 Was at 20%. So that would mean my BIK €660 per month is the only part @40% per month. Or?

Then USC is there to rob the next chunk.

myshirt

Summer8181 wrote: »

Great thank you very much. I think I read somewhere that 44,000 Was at 20%. So that would mean my BIK €660 per month is the only part @40% per month. Or?

Then USC is there to rob the next chunk.

There is no one robbing anything off you man, chill.

Ninthlife

Summer8181 wrote: »

Great thank you very much. I think I read somewhere that 44,000 Was at 20%. So that would mean my BIK €660 per month is the only part @40% per month. Or?

Then USC is there to rob the next chunk.

Standard deductions of PAYE (tax) USC and PRSI.

If your cut off is 44,000 then anything above that is 40%

namenotavailablE

Assuming a cutoff of €43550 rather than €44000 and annual tax credits of €3300, this is what my spreadsheet URL="http://taxcalc.eu/monthlyss"]link[/URL indicates for 2019:



For a more accurate result, you'd need to provide the actual cutoff and tax credit values.

allthedoyles

Summer8181 wrote: »

I would like some advise here. Married couple. Receiving incapacitated tax credit & half rate carers allowance as wife is on invalidy pension.

Question is should I apply for home carers tax.
I read online that I shouldn't as I will be taxed at 40% earlier. I received it last year but I think it meant I paid more tax. I see it is not on my tax credits for 2019. Is this revenue telling me that I'm better off without it.

So confused. Does it depend on how much I earn?

Thanks in advance

You really need to do tax returns and ask for a balance statement for 2018. As you received the Home Carer tax credit in 2018 , ask them to include it and if it is more beneficial they will leave it with you .


Note : You cannot claim this credit if the dependent person is your spouse or civil partner.


Also note this :You cannot claim both the increased Standard Rate Cut-Off Point for dual income couples and the Home Carer Tax Credit. Your Revenue Office will help you to determine which is better for you.

And this :
Carer’s Allowance, is not taken into account when checking if you are due the Home Carer Tax Credit