Salary after Tax

Carl D

Hi all does anyone else thinks its crazy how much tax we pay from our salary. Someone one 60k is getting 3,495 a month , 873 a week.

Compared to say someone like a doctor who would be on around 90k can work up to 60 hours a week but would no life . After tax would be 56,689 , which is only 4,724 a month

Difference is only 1,229 a month , its property better to be on a lower wage as you lose half of your salary on tax.

What would you consider a bad to very good weekly salary? I think most people In Ireland make just over 500 a week would that be good ?

would you say 800 to 1k a week before tax very good ?

Let us know what you think.

Geuze

This has been discussed over and over.

Many earners pay zero income tax.

Many earners pay very little income tax.

But the top MTR kicks in very early, at 35k approx.

Our income tax system is very progressive, one of the most progressive in the world.

Taxes on low earners are very low.

Taxes on high earners are much closer to levels across the EU.

Overall, our direct income taxes are below typical EU rates, mainly due to very low PRSI, at 4%, versus e.g. 20% in DE.



One anecdote:

my parents pay less than 10% direct tax on approx 50k, and get:

two medical card
two FTP
free TV licence
35 pm / 420 pa off electricity

krissovo

Carl D wrote: »

Difference is only 1,229 a month

Thats an extra ~200k on a mortgage, big fancy car, holiday, savings ,investment and I could go on. Yes it still worth it, once you get up these high salaries the increases for promotions and pay grades are larger that compensates for Tax I find. My next pay grade is a 20k increase in salary

Carl D

Geuze wrote: »

This has been discussed over and over.

Many earners pay zero income tax.

Many earners pay very little income tax.

But the top MTR kicks in very early, at 35k approx.

Our income tax system is very progressive, one of the most progressive in the world.

Taxes on low earners are very low.

Taxes on high earners are much closer to levels across the EU.

Overall, our direct income taxes are below typical EU rates, mainly due to very low PRSI, at 4%, versus e.g. 20% in DE.



One anecdote:

my parents pay less than 10% direct tax on approx 50k, and get:

two medical card
two FTP
free TV licence
35 pm / 420 pa off electricity

Where has be talked before ? Under what thread?

Your parents are probably retired now they wouldn't be able to have one let alone 2 medical cards I myself should have a medical card as have long illness and will to take tablets every day for rest of life , but since I work full time I'm not entitled to a medical card.

I wouldn't worry about tv licence isn't that expensive anyway. And can get electrically from pre pay power and others nowadays from around the same price . All about shopping around.

Carl D

krissovo wrote: »

Thats an extra ~200k on a mortgage, big fancy car, holiday, savings ,investment and I could go on. Yes it still worth it, once you get up these high salaries the increases for promotions and pay grades are larger that compensates for Tax I find. My next pay grade is a 20k increase in salary

Extra 307 a week if look at it that way . What line of work are you In that it goes up 20k Increase.

Geuze

Carl D wrote: »

Where has be talked before ? Under what thread?

Your parents are probably retired now they wouldn't be able to have one let alone 2 medical cards I myself should have a medical card as have long illness and will to take tablets every day for rest of life , but since I work full time I'm not entitled to a medical card.

I wouldn't worry about tv licence isn't that expensive anyway. And can get electrically from pre pay power and others nowadays from around the same price . All about shopping around.

On multiple threads over the years, in multiple fora.

Yes, parents are retired, although they still have three small wage incomes coming in, as well as pension incomes.

Due to the medical card means-test being far more generous for people over 70, than for people under 70, they both get full med cards.

Note that prepaid electricity is far more expensive than getting a bill.

krissovo

Carl D wrote: »

Extra 307 a week if look at it that way . What line of work are you In that it goes up 20k Increase.

I am in Tech and work for a multinational as a "fixer".

EverythingGood

Everyone should pay some tax, even if its a fixed amount of €2 per week on the lowest of wages.

Calahonda52

EverythingGood wrote: »

Everyone should pay some tax, even if its a fixed amount of €2 per week on the lowest of wages.

.
This, even on the nOAP etc, as well as a small contribution to the SW fund is key, IMO, to engaging the populace and keep reminding them as to the fact that there is no such thing as a free lunch..
.
The idea of getting folk out of the tax/SW contribution net is crazy; it creates a massive disconnect

Dprotips

I dont get taxed that much compared to someone on 90k but I make the same as them each month.

Calahonda52

Dprotips wrote: »

I dont get taxed that much compared to someone on 90k but I make the same as them each month.

Have you the math to support this?
Are you in receipt of untaxed income?