credits

W

waitAminute

Guest
What must one earn as a minimum to use up your non transferable credits tax credits?
 
Standard non-transferrable €19,000
PAYE (only someone who works) €20,000

If related to employer, PAYE not been allowed

Stu
 
Oilean

So a person (paye) would need a taxable income of 19000 to use up their tax credits!

A pension then of €19000 per annum would incur NO tax under PAYE,
or am I totally wrong?
 
tax credits

€19,000 @ 20%, balance at 42% less credits
 
Apologies

Sorry for that I read it as non-trensferrable rate-band

Stu
 
so a spouse should have a pension or earn at least 19000 p/a
to maximise the relief available at the 20% rate.
or
and should earn at least 5.8k to maximes use of the credits

Because these are NON transferable, the partner of a spouse with no income/pension misses out as their position is not efficient in tax terms

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