You realise that's not entirely correct in the circumstances of the poster, as one earner is in an income less than 26,300A key factor for you is that (with tax credits and allowances) a married couple don't go on the 40% rate of tax until they earn more that €70,600. So a couple with a double income and jointly assessed for tax (that basically means one person takes responsibility for submitting tax returns for both) are taxed at 20% rate up to a threshold of €70,600. The 40% tax rate kicks in for income above that
If that's not possible, would it still be worth it if the tax relief on my husband's contributions are only 20%?
I am not sure if having children would be regarded in the financial world as an astute investment. Having had the expeience I know now, they were the most expensive investment I ever made. A report a few years ago in the Irish Time says it costs half a million to rear two children to age 25.If I was your age again I would tell myself that kids were the best investment I made, but this is not for everyone
You seem to have missed the question.Because one person in this case has a lower income it will be important that the contribution to AVCs takes account of the tax implications and the couple have a combined approach, to maximise the relief for AVC contributions at the 40% rate.
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