Was I taxed too much ?

D

dave29

Registered User
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104
Sorry if this is not the right place.

My normal wages before tax is €2833.33 / Month
There is a BIK on my wage slips for health Car of €120.41, But there is also a Non-Tax ADJS on the pay slip for the same amount, ( Health care is paid by the company )

We got a bonus this month of €3400, I know this was going to get taxed to bits but I feel it was taxed to much .

My take home for this month was €3879.78, I don't know the tax system but i thought anything extra i made would be taxed at 41%

I thought i would have received closer to €4200 in my wages.

Does anyone know if i've been charged to much tax?
 
You would pay extra PAYE at 41% but there would also be USC & PRSI on it which brings the actual tax rate to over 50%, maybe that accounts for the difference?
 
Ok so you got an extra 3400.

You pay tax on it at 41% - that's 1,394
You pay PRSI at 4% - that's 134
You pay USC at 7% - that's 235

Take each of those off and it leaves you with 1,632.

You say you think your normal monthly pay is 2,280 - adding 1,632 would give 3,912.
 
ya thats about what i got.. so i guess it's right.. I know it's a bonus and unexpected.. but still hurts losing that much to tax

thanks for the replies.
 
Welcome to the higher tax band : - (

I was struck by your post on your gross and net pay (34 gross which is 2830 approx a month, €2280 net). My gross pay is 85k which is 2.5 times your gross but my net is €3700 which is only 1.6 times your net. Unfortunately, despite being a 'low tax economy', we live in a country in which there is little incentive to climb up the ladder ...
 
mammyof2 said:
Welcome to the higher tax band : - (

I was struck by your post on your gross and net pay (34 gross which is 2830 approx a month, €2280 net). My gross pay is 85k which is 2.5 times your gross but my net is €3700 which is only 1.6 times your net. Unfortunately, despite being a 'low tax economy', we live in a country in which there is little incentive to climb up the ladder ...
Click to expand...


thats horrible... Is there any way to claim money back at all ? If i was on 85k I would hate to have to pay that much tax.
 
Nope, other than claiming back 20% of our medical expenses and bintags - which adds a hundred or two to the family budget! The actual PAYE amount is not particularly high, it is the USC and PRSI and pension levy that is the killer ....
 
mammyof2 said:
Nope, other than claiming back 20% of our medical expenses and bintags - which adds a hundred or two to the family budget! The actual PAYE amount is not particularly high, it is the USC and PRSI and pension levy that is the killer ....
Click to expand...

The pension levy distorts your comparison, and I expect your pension contribution is also in the mix there. Apples and oranges mammy.
 
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