Hi Bronte,
Thanks for the reply - and sorry for not replying before now - I didn't realize I had a reply until over Xmas!
Our situation is that my husband earns in the region of 100k
I work 4 days per week (24hrs in total). Salary is approx 36k - plus bonus and healthcare.
I commute 8 hours a week (spending approximately €75 per week on travel costs).
We have 1 child in school and 1 toddler.
We spend approximately 1k per month on childcare.
We have a family home with a monthly mortgage repayment of approx 1200 per month.
My husband has a rental propery in his name that is not in negative equity.
We usually have a tax bill of between 1-2k a year for this property.
I have a rental propery that is not in negative equity.
I usually have a tax bill of between 1-2k a year for this property.
We are currently separately assessed for tax purposes.
If I have left anything out please let me know.
I would REALLY appreciate any advise that anyone can give on our situation.
My main question, is if it makes sense for me (financially) to continue working - or if in fact I would be as well off if I was a SAHM.
If I wasn't working, could I consider the rental income from my property as my income? (which I wouldn't have to pay much tax on, as it would be my sole income?)
Could my husband tranfer his rental property into my name - so that the rental income from that property could be my income also??
Thanks again for any help or advise that anyone can offer.
Mememe.