Yes, have just done this on ROS and the increased standard rate band for spouses does not apply to dividend income, only employment / pension / social welfare income.
Yes, have just done this on ROS and the increased standard rate band for spouses does not apply to dividend income, only employment / pension / social welfare income.
ROS is not infallible. It is simply a software programme which interprets legislation. The legislation itself is the ultimate authority.
Thanks Graham,
I'd love to be with Clarkey on this one, but suppose ROS gotta be right.
So to confirm, dividend income, rental income, interest income would all be chargeable at the higher rate of either spouse, regardless of whose name it is in.
Yes, have just done this on ROS and the increased standard rate band for spouses does not apply to dividend income, only employment / pension / social welfare income.
then ROS is wrong.
ROS is not infallible. It is simply a software programme that performs calculations on the basis of an interpretation of legislation. The legislation itself is the ultimate authority.
Well, if we want to debate infallibility and ultimate authority, we could either take it to the courts or the God channel!
But short of doing that Ubiquitous, can ROS be taken as a reasonably accurate representation of Revenue's interpretation of legislation, particularly referring to this case.
No.
If you see the Revenue leaflet IT66 (Home Carer's credit) you will see from their worked examples that they increase the standard rate cut off point when the non-working spouse has investment income.
No.
If you see the Revenue leaflet IT66 (Home Carer's credit) you will see from their worked examples that they increase the standard rate cut off point when the non-working spouse has investment income.
Ah, but are Revenue leaflets infallible ???
Yes, have just done this on ROS and the increased standard rate band for spouses does not apply to dividend income, only employment / pension / social welfare income.
Actually, in the example you were using, would it have been more beneficial for the spouse to claim the Home Carers credit? If so, the Revenue will not increase the band.
I input the following two scenarios on ROS.
A. One earner with salary of €60,000. ROS gives €41,000 @ 20% and €19,000 @ 42% which is correct.
B. One earner with salary of €60,000 as above but spouse with Irish dividend income of €19,000. ROS gives €60,000 @ 20% and balance @ 42% which would also appear correct but contradicts what ye are saying about ROS not giving increased band.
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