I'm staying on the three fiddy!

FutureTeashock

Why in the name of all that's Holy would I search for a new job when I'll just get clobbered with a massive tax bill?


If that's the game they want to play, then I'll be "socially distancing" myself from employment for a considerable time to come!


We've quite literally been sold a PUP! :mad:



https://www.rte.ie/news/business/2020/0617/1147968-you-may-owe-tax-on-covid-income-support-payments/

Del2005

It was announced at the beginning that there would be tax to be paid on the Covid payout. You can't stay on the €350 as it'll be gone soon.

muffler

FutureTeashock wrote: »

Why in the name of all that's Holy would I search for a new job when I'll just get clobbered with a massive tax bill?


If that's the game they want to play, then I'll be "socially distancing" myself from employment for a considerable time to come!


We've quite literally been sold a PUP! :mad:



https://www.rte.ie/news/business/2020/0617/1147968-you-may-owe-tax-on-covid-income-support-payments/

can't day I blame you in a way but the sooner the government cop on with this payment in its present format the better

Wanderer78

Maybe the problem is with work not paying enough!

Spook_ie

Doesn't matter if you stay on the €350 or not, the tax will be due if you go into a taxable rate applicable to your personal circumstances.

i.e single person "earning" €350 p.w €18200 per year

Yearly Pay €18,200
Tax Credits €3,300 ( single person + PAYE )
Standard rate cut off = €35300

18200x20% = €3640
Less Credits - €3300

Tax Due €140

Not sure if USC would also be due but if it is then another approx €184 will be due

Doesn't sound a lot but the taxman will get his money sooner or later from you,