Tax on bonus question

[dave29]

Hi All.

We got an unexpected bonus in work today ( not paid till the end of the month)

But i'm trying to figure out what i will come out with after tax, I'm no good at adding it up.

my basic before tax per month is €3000 and the bonus was €1488.

I'm single with no kids.. nothing else effect my wage etc.

Would someone be able to tote up what will land in my bank account at the end of the month ?

thanks.

 

[Joe_90]

Your salary is €36k so you pay 41% income tax, 4% PRSI and 7% USC, so the taxman gets 52% and you get 48%.

 

[dave29]

but it's not 41% on it all right ?

So what will i get ?

about 3k ?

 

[mandelbrot]

but it's not 41% on it all right ?

So what will i get ?

about 3k ?

You'll get whatever your normal monthly salary is, PLUS 714.24 (being 48% of 1,488).

 

[Joe_90]

Thanks for that @mandelbrot, I always forget its Tax101.

 

[dave29]

Your salary is €36k so you pay 41% income tax, 4% PRSI and 7% USC, so the taxman gets 52% and you get 48%.

Ah you meant the 48% in ref to the bonus not the whole wage !- I didn't get that till Mandelbrot replied. Thanks.

You'll get whatever your normal monthly salary is, PLUS 714.24 (being 48% of 1,488).

Thanks

Thanks for that @mandelbrot, I always forget its Tax101.

No need for that, the reason this forums is hear is to help people, If i knew the answer I wouldn't have posted the question.

While you did answer it,, I didn't understand your answer until someone else replied.

 

[mandelbrot]

No need for that, the reason this forums is hear is to help people, If i knew the answer I wouldn't have posted the question.

While you did answer it,, I didn't understand your answer until someone else replied.

No need to be getting sniffy about it - he was happy to help, as was I - he was merely thanking me for clarifying, and acknowledging the fact that he hadn't been simplistic enough in his original reply.