paye tax credit

M

mtk

Registered User
Messages
693
Hi anyone know do you get the 1650 paye tax credit if your only income is an arf drawdown?
thanks
 
Thanks all,

That's what I thought too - was just worried that I was having a very senior moment - another!

As a broader point, is it fair to say that once one is taxed under PAYE (in a given year) that the tax credit is payable.
 
My mistake. I was thinking of my situation where I have only investment income and the PAYE credit does not apply. Obviously it does apply in the case of payments from an ARF. Sorry for the confusion.
 
Eeyore said:
My mistake. I was thinking of my situation where I have only investment income and the PAYE credit does not apply. Obviously it does apply in the case of payments from an ARF. Sorry for the confusion.
Click to expand...
Thanks Eeyore
 
In general if you have PAYE income of more than €8,250 then you will get the PAYE Cr (Excludes prop. Directors).
 
Reactions: mtk
Thanks for clearing that up for me guys I saw reference to income from occupational pension scheme getting it mentioned on revenue.ie so wasn't sure about Arf withdrawal .
 
I am married and have a base salary of €75k and earn no other income.
My spouse does not work at the moment and is not receiving any social welfare benefits.
We are jointly assessed for income tax.

Can anyone confirm if there is any benefit if I transfer all of my spouse's credits to me also?

Thanks
 

There are a few things you should be getting:

An uplift of circa €9,000 in respect of your Standard Rate Band. That saves you 20% of €9,000, i.e. €1,800. Basically 20% tax instead of 40% tax on €9,000.

Your spouse’s Personal Credit of €1,650 which saves you €1,650.

You may also be entitled to the Home Carer Credit of €1,200 (saving you €1,200) if your spouse is caring for dependents (e.g. kids).
 
You must log in or register to reply here.
Menu
Log in
Register