T TableEnd Registered User Messages 87 19 Apr 2012 #1 Do you pay tax on single payment from department of agriculture if you also work part time?
J Joe_90 Registered User Messages 2,222 19 Apr 2012 #2 Well, The Single Farm Payment forms part of your farm trading profit or loss. So you compute your farm profit or loss, taking all your farm income less farm expenses, and then add your other income to that to get your taxable income. Then you see do you have any tax to pay.
Well, The Single Farm Payment forms part of your farm trading profit or loss. So you compute your farm profit or loss, taking all your farm income less farm expenses, and then add your other income to that to get your taxable income. Then you see do you have any tax to pay.
T TableEnd Registered User Messages 87 19 Apr 2012 #3 thank you, I pay PAYE at sourse so which income do I add to my farm profit and loss, net or gross?
W WindUp Registered User Messages 660 19 Apr 2012 #4 in simple terms for income tax -Excl USC PRSI Add all income (incl Gross PAYE income) Deduct allwable pension contribs Calc Tax Deduct Credits Deduct PAYE tax paid = tax due
in simple terms for income tax -Excl USC PRSI Add all income (incl Gross PAYE income) Deduct allwable pension contribs Calc Tax Deduct Credits Deduct PAYE tax paid = tax due