Income Tax for over 65s

TheJackal

Registered User
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299
I've been looking around but can't find an answer to this.

Once you reach 65 the exemption limit for Income Tax (married couple) is €36,000 pa.

Is the balance of your income over 36K all then taxable at 20%?

Or do you also pay 41% once you go above another higher limit?
 
http://www.revenue.ie/en/tax/it/leaflets/it8.html

Take a read of above link on marginal relief for computation even if above the limit

Thanks, I had read this before but went back & took a closer look.

"If your income is up to twice the amount of the relevant exemption limit you may be entitled to marginal relief, however it will only be given where it is more beneficial to you than your tax credits."

Current limit is 36K, so you pay 40% marginal relief on amounts between 36K to 72K.

Wouldn't be going over the 72K so no need to enquire as to what would happen then!
 
To get correct answer so times I mess around with ros calulator.

Do a draft return for yourself on ros and put in different figures to see the effect of it

Maybe put an example of what amount of incomes you are talking about, rough date of birth and some one on site might do rough comp for you
 
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