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Tax bands and rates.

  • 18-06-2019 6:11am
    #1
    BarneyMc
    Registered Users, Registered Users 2 Posts: 1,504 ✭✭✭


    My query relates to this page regarding tax bands and rates.

    I am married and earn approx €44K gross pa. My wife has just started part time work and will earn maybe €10K gross this year. We also rent out a house (which I bought before we got married) and this takes in approx. €8K gross pa. Approx. €62K gross pa in total.

    Will I be taxed on the €8K rental income at 20% or 40%? In other words can this €8K be taxed under the €26,300 max under my wife's allowance or does it have to be put against my income which means 40%? Thanks for any guidance.


Comments

  • #2
    relax carry on
    Registered Users, Registered Users 2 Posts: 4,113 ✭✭✭relax carry on


    BarneyMc wrote: »
    My query relates to this page regarding tax bands and rates.

    I am married and earn approx €44K gross pa. My wife has just started part time work and will earn maybe €10K gross this year. We also rent out a house (which I bought before we got married) and this takes in approx. €8K gross pa. Approx. €62K gross pa in total.

    Will I be taxed on the €8K rental income at 20% or 40%? In other words can this €8K be taxed under the €26,300 max under my wife's allowance or does it have to be put against my income which means 40%? Thanks for any guidance.

    As the house is owned by you only, the rental income is treated as yours and taxed under you meaning the 8k is taxed at your marginal rate.


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