CGT and income tax basics for a Northern

ConorC1888 · 2022-12-14 14:50:33

Hi I live in NI but my in laws are in South. They are pensioners and get about €300 a week each between State and Private pensions, so approx €15,600 each. What tax band are they in and what % tax would they pay? Also what can they earn before they go into the next band and what is it? They are due an income windfall of…

14-12-2022 03:50PM

#1

ConorC1888

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Hi
I live in NI but my in laws are in South.
They are pensioners and get about €300 a week each between State and Private pensions, so approx €15,600 each.
What tax band are they in and what % tax would they pay? Also what can they earn before they go into the next band and what is it?
They are due an income windfall of €17.5k each over the next 2 tax years.

Thanks in advance

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#2 14-12-2022 04:02PM

Geuze

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Couples earning under 36k pay zero income tax, if they are aged over 65.
https://www.revenue.ie/en/personal-tax-credits-reliefs-and-exemptions/marital-and-civil-status/exemption-and-marginal-relief/exemption-limits.aspx

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#3 14-12-2022 04:04PM

Geuze

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If the couple aged over 65 earn a bit more than 36k combined, then marginal relief may apply.

Otherwise, the regular income tax credits and bands apply.

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