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Married tax credits

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  • 01-08-2019 5:03pm
    #1
    Munchiegoon
    Registered Users Posts: 2 ✭


    Hi all,

    Recently got married and am just wondering if we are better off being assessed separately or jointly for tax purposes?

    My wife earns 26,500 and I earn 43,000 gross.

    Thanks
    Tagged:


Comments

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    #2
    vriesmays
    Registered Users Posts: 1,570 ✭✭✭vriesmays


    There's probably a calculator on their website.


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    #3
    Stratvs
    Registered Users Posts: 958 ✭✭✭Stratvs


    Take a look at this thread

    https://www.boards.ie/vbulletin/showthread.php?p=110820953

    As singles you'd pay 40% once earnings > €35,300. So currently you are in that position. On the other hand your spouse is under her cut-off point. So under joint assessment you could transfer €7,700 cut-off to you increasing your cut-off from €35,300 to €43,000 which saves €1,540pa. ( the difference at 20% )

    If you say recently married meaning 2019 it will be 2020 before you can be jointly assessed. However you may have an adjustment in your favour for the part of 2019 post-marriage. If you were married before 01/01/19 you could elect for joint assessment for 2019 on.


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    #4
    Munchiegoon
    Registered Users Posts: 2 ✭Munchiegoon


    Thanks Stratvs, exactly what I was looking for


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