single vs married - tax benefit??

K

kcgw

Registered User
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Hi
I hope someone can give me some advice, I'm a bit clueless with regard to tax etc. and have a question re. tax being single vs married
My partner and I are not married, although living together and engaged (for 7 years!!) and have a 1 toddler. We were planning on eventually getting married at some stage but I have realised (only just recently) that we may be better off financially getting married, civil marriage, sooner rather than later.
Anyway can anyone tell me if this is true and how to work out the financial (tax) benefit (if any) to us.
I am female and earn €74000 a year, my partner earns €19000 a year, we have one child.
Any help is much appreciated..
thanks kcgw
 
Your partner has unused 20% band of €13,800 but you can only transfer a max of €9,000 between spouses

Basically what this means is that €9,000 of your salary which was previously taxed at 41% now becomes at just 20%, thereby saving you 21% of that €9,000 which is €1,890

Next year when the 41% rate drops to 40% the saving reduces to €1,800 (€9,000 x 20% saving)

That's it really
 
Per OP

kcgw said:
My partner and I are not married, although living together and engaged (for 7 years!!) and have a 1 toddler. We were planning on eventually getting married at some stage but I have realised (only just recently) that we may be better off financially getting married, civil marriage, sooner rather than later.
Anyway can anyone tell me if this is true and how to work out the financial (tax) benefit (if any) to us.
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