Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie
Hi all! We have been experiencing an issue on site where threads have been missing the latest postings. The platform host Vanilla are working on this issue. A workaround that has been used by some is to navigate back from 1 to 10+ pages to re-sync the thread and this will then show the latest posts. Thanks, Mike.
Hi there,
There is an issue with role permissions that is being worked on at the moment.
If you are having trouble with access or permissions on regional forums please post here to get access: https://www.boards.ie/discussion/2058365403/you-do-not-have-permission-for-that#latest

Overtime

  • 15-07-2019 10:11am
    #1
    Seanachai
    Registered Users Posts: 2,544 ✭✭✭


    I'm paid monthly and I did two extra days this month that are paid at an OT rate, will this money be taxed at the higher rate?

    P.S. I should have said I'm earning below €30k


Comments

  • #2
    Calahonda52
    Registered Users, Registered Users 2 Posts: 12,558 ✭✭✭✭Calahonda52


    Don't think so
    https://www.revenue.ie/en/personal-tax-credits-reliefs-and-exemptions/tax-relief-charts/index.aspx

    “I can’t pay my staff or mortgage with instagram likes”.



  • #3
    dennyk
    Registered Users, Registered Users 2 Posts: 1,727 ✭✭✭dennyk


    There aren't different tax rates for different types of PAYE income; it's all taxed at your same marginal rate depending on how much total income you have. If your total income with this overtime pay still puts you in the 20% tax rate band for the year, then that's what you'll pay.


  • #4
    namenotavailablE
    Registered Users, Registered Users 2 Posts: 59,641 ✭✭✭✭namenotavailablE


    Here is a list of Irish income tax calculators:

    My macro enabled Excel spreadsheet (Windows only and needs Excel 2010 or newer to work): http://taxcalc.eu/monthlyss/Employee%20PAYE%20calculator.xlsm

    Other calculators
    Karl Grabe's web app is good for a quick calculation: http://taxcalc.eu
    Hookhead's calculator is at http://www.virtualaccountant.ie/Tools/tax2019.jsp
    Deloittes: http://services.deloitte.ie/tc/
    Taxcalc.ie: http://taxcalc.ie/budget-2019/

    Free Excel net pay calculator- https://taxcalc.eu/monthlyss/Employee%20PAYE%20calculator.xlsm



  • #5
    thegolfer
    Registered Users, Registered Users 2 Posts: 346 ✭✭thegolfer


    Let's assume you are paid monthly.

    If on a monthly basis you exceed the lower thresholds, and credit's, which are split out monthly, the pay may be taxed at the higher rate.

    However, at the end of the year, and following a review, you are still within the lower taxbands, you will get a refund.

    Employers are obliged to operate payroll as provided for by Revenue.

    Assuming you are on 30k, then you'd most likely not pay tax for the full year at the higher rate.


  • #6
    Seanachai
    Registered Users Posts: 2,544 ✭✭✭Seanachai


    thegolfer wrote: »
    Let's assume you are paid monthly.

    If on a monthly basis you exceed the lower thresholds, and credit's, which are split out monthly, the pay may be taxed at the higher rate.

    However, at the end of the year, and following a review, you are still within the lower taxbands, you will get a refund.

    Employers are obliged to operate payroll as provided for by Revenue.

    Assuming you are on 30k, then you'd most likely not pay tax for the full year at the higher rate.

    I got the overtime and it was all taken away with tax, it was a little over €300. I thought it would be taxed at 20%?

    Edit: I misread the payslip, they didn't pay it in at all


  • Advertisement
Advertisement