Joint or single assessment?

M

melonn

Registered User
Messages
22
Hi there, me and my spouse are currently assessed separately for last year.
we were told we are better from tax point of view if assessed jointly. can someone tell me how to do the maths for the following 2 incomes:
Total annual gross income A : 30,000
Total annual gross income B : 150,000

Also, how do i go about asking for joint assessment? do i just give a call to revenue or fill in form online?
Many thanks!
 
The default position for a married couple is to be taxed jointly.
If you have been taxed separately either one of you elected for this at some point, or you never informed Revenue that you were married.
If it was the first cause, the one who requested sep. treatment would have to contact Revenue and cancel the request. If the second, depending when you got married, you could be eligible in the year of marriage for some tax relief.
If you both have Paye incomes and this has been going for for a number of years, you should look at the past years' joint tax position in case you could be due a refund.
 
Using my Excel tax calculator (only works in Excel 2007, not in earlier versions of Excel and requires that macros are enabled in Excel (instructions given)) I calculate as follows for a dual income married couple who are jointly assessed:

Code: 
              Spouse A   Spouse B
Gross pay     30000       150000
PAYE           4716        46476
PRSI/Health    2136         9617
Income levy     [U]600[/U]         [U]4419[/U]
Net pay        [U]22548[/U]       [U]89407[/U]
Assumptions:

  • Both persons are private sector employees rather than self-employed or proprietary company directors
  • Income is earned evenly over the year
  • No pensions or other deductions are applied to either income
  • No account has been taken of the possible impact (if any) of the high earners restriction
 
You must log in or register to reply here.
Back
Top