onemanortow
New Member
- Messages
- 3
All, I just received and increase to my pay from work.
All my cut off points are standard btw, I have no children under 18, I pay a mortgage on my house, not married.
My company pay my health insurance which is valued at €148p.m and the match the contribution to my pension.
Details;
Old salary gross was €96,255 and new is €105,000 (I get a bonus but that doesn't count in this as it's yearly and we wont get this year).
My old net was €4,666 and my new net is €4,813 (all figures rounded off). As my pension is a % contribution, there there is an extra €66 gone to that.
This means a net increase of €147 p.m. after pension contribution that's €214, which is about 30% of my gross increase of €729, surely I can't have been taxed 70% of my gross raise amount?
Monthly figures below
Any ideas why this might be?
All my cut off points are standard btw, I have no children under 18, I pay a mortgage on my house, not married.
My company pay my health insurance which is valued at €148p.m and the match the contribution to my pension.
Details;
Old salary gross was €96,255 and new is €105,000 (I get a bonus but that doesn't count in this as it's yearly and we wont get this year).
My old net was €4,666 and my new net is €4,813 (all figures rounded off). As my pension is a % contribution, there there is an extra €66 gone to that.
This means a net increase of €147 p.m. after pension contribution that's €214, which is about 30% of my gross increase of €729, surely I can't have been taxed 70% of my gross raise amount?
Monthly figures below
| New | Old | Difference | ||
| Gross | 8750 | 8021 | 729 | % increase |
| PAYE | 2329 | 1893 | 436 | 60% |
| PRSI | 355 | 326 | 29 | 4% |
| USC | 447 | 390 | 57 | 8% |
| LPT | 16 | 22 | -6 | |
| Pension Contrib | 787 | 721 | 66 | |
3934 | 3352 | 582 | ||
| Net | 4814 | 4666 | 147 |
Any ideas why this might be?
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