Hi all,
My wife and I currently share tax credits, an arrangement we made from when she took a career break.
She's back to work now and earning €25K p/a. I earn about €150K. We also have an idle property which we have yet to decide to sell or rent out.
A couple of questions -
1. Is there any reason we shouldn't go back to separate tax treatments? As things stand I feel like - with every Form 11 we return - that we're paying 52% tax on her earnings. Also, renting out the apartment and being taxed at 52% doesn't make any sense for us.
2. Why does Revenue makes it impossible - if not extremely unclear how - to request separate tax treatment?
Thanks!
My wife and I currently share tax credits, an arrangement we made from when she took a career break.
She's back to work now and earning €25K p/a. I earn about €150K. We also have an idle property which we have yet to decide to sell or rent out.
A couple of questions -
1. Is there any reason we shouldn't go back to separate tax treatments? As things stand I feel like - with every Form 11 we return - that we're paying 52% tax on her earnings. Also, renting out the apartment and being taxed at 52% doesn't make any sense for us.
2. Why does Revenue makes it impossible - if not extremely unclear how - to request separate tax treatment?
Thanks!