stay at home hubbie - to be or not to be!

D

DEXTER2011

Guest
Hi all
myself and my hubbie both work full time but with baby number 4 on way we reconsidering same .. as my job paying most and most secure we considering hubbie staying at home and wondering would there be any positive tax implications. I have a hse salary of 59000 (before all deductions)... hubbie currently earning 40,000...
would appreciate advise... while we know we will def be down money and there is implications for hubbies career development...we thinking stress and child care costs and hassle would be dramatically reduced...
thanks for reading
dexter 2011
 
For one thing you would probably qualify for the home carer's tax credit

http://www.revenue.ie/en/tax/it/credits/home-carers.html

I can't think of any other tax implication offhand but maybe others can.

Have you crunched the numbers to see exactly how much you would be down and if the expected reduction in stress and childcare costs outweigh these "losses"?

You can use www.taxcalc.eu (the online calculator or more detailed spreadsheet one) to estimate the impact on net income of one rather than both of you working.
 
Career break not an option for either? Employ reliable/caring relative for child care?

Money earned is not bad and jobs are few and far between these days.
 
As clubman has suggested, Parental leave is a good way of testing the waters as to what it is like to be at home all day caring for young children.

If you do decide to be the house hubbie don't forget to register for PRSI Homemakers Credits (to protect pension rights). It is not necessary for females to do this as they receive Child Benefit
 
Black Sheep said:
It is not necessary for females to do this as they receive Child Benefit
Click to expand...
Just to be pedantic ... while that may be the norm it is not unknown for a (non widowed) father to receive the CB especially or for the kids to live with him (under a sole custody arrangement or joint with day to day care and control granted to the father).
 
You must log in or register to reply here.
Back
Top