Net/gross pay calculation?

whistler said:

Is there a calculation for this?
Single person, no dependants. If net income came to say €45,000 how much would the gross income be?

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Towger said:

71,180.04 Give or take.

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ClubMan said:

[broken link removed] (working backwards to fit a net to a gross) suggests c. €72K. Of course it could be wrong. Just curious as to how you get €63K?

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Yearly take home pay. (Single)
Selected Tax year is 2007
Gross Take Home Pay = € 63200.0
Tax = € 15252.0
Take Home Pay after Tax = € 47948.0
Less PRSI = € 2983.372
Net take home pay = € 44964.63

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**************************************************
Calculate end of year tax returns (Single)
Tax year for calculations is 2007
(Form P21C)
Selected currency is Euro €
**************************************************

INCOME FROM EMPLOYMENTS €:
Income for Self 63200.0
Other Incomes/Benefits 0.0
--------
Gross Statutory Income 63200.0


CREDITS (@20%)€:
Personal Allowance 8800.0
PAYE Allowance 8800.0
Medical Insurance Allowance 0.0
Service Charge Allowance 0.0
--------
Total Credits (@20%) 17600.0


ALLOWANCES (@41%) €:
Med Expenses, Perm Health 0.0
Expenses 0.0
--------
Total Allowances 0.0

COMPUTATION OF NET TAX PAYABLE BY YOU €:
Gross Statutory Income 63200.0
Less Allowances before tax 0.0
--------
Taxable Income 63200.0
Which is chargeable as follows:
34000.0 @ 20% = 6800.0
29200.0 @ 41% = 11972.0
--------
Income Tax due 18772.0
LESS €:
Tax Credits (17600.0 @20%) 3520.0
Total Income Tax due 15252.0
Net Tax deducted under PAYE 0.0
--------
Tax Underpaid € 15252.0

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PRSI Liability for Tax Year 2007
For Self:
PRSI ClassA1 42984.305 @4.0% = € 1719.3722
Health Levy 63200.0 @2.0% = € 1264.0
Total PRSI ClassA1 contribution = € 2983.372

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