PRSI isn't shown on a tax credit cert. You're probably looking at the USC I'd guess.Trying to get to the bottom of this:
My own calculations are:
Tax:
Me: €49000 @20%. €9800
Spouse: €31,000@ 20%. €6200
Me: €18500 @40%. €7400
Spouse: €19000@40%. € 7600
Gross Tax: €31000
Tax credits : €7100 total
Married Person Self Employed : me €3550
Married Person: Self Employed Spouse: €3550
Tax calculation : €31000 - €7100 = €23900
PRSI : €117500 @ 4%. € 4700
USC ( I’m trusting the taxcal.ie
calculation on this € 3782
Nett annual salary. €85118
( same as taxcalc.ie)
I note on my tax credit certificate that PRSI is deducted at 8% on my ARF. I presume this is incorrect. Anyone know why this would be shown on it.
Thanks in advance for any replies.
Thanks for that Ciru75.Looked this up on the Revenue site :
The USC Rates & Bands from 1 January 2023 will be:
*Incomes of less than €13,000 are exempt from USC.
- €0 – €12,012 @ 0.5% - no change
- €12,013 – €22,920 @ 2%
- €22,921 – €70,044 @ 4.5%
- €70,045+ @ 8%
- Self-employed income over €100,000: 3% surcharge
So , our USC on €117,500 total joint earnings and ARF would be €6195 as follows :
€12012 @ .5% €60.06
€10908 @ 2% €218.16
€47124 @ 4.5% €2120.59
€47456 @8% €3796.48
Total USC €6195.29
Can anyone tell me are my calculations correct ? Thanks very much
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?