Will we better off tax wise if we marry?

[Olive]

Wondering if anyone can advise me. I am taking voluntary redundancy early in the new year, myself and my partner have 2 young children and are not married. Neither of us have any interest in getting married however several people have told us we should once I am no longer working as it will benefit us financially by about 300 euro a month net.

However, when reading about the 4 year plan etc, it seems that single income married couples will lose more than single people, so I'm wondering if this is really the case.

We are willing to do the deed if it will benefit us financially, but we really dont want to, if that's not the case.

CAn anyone clarify what's the situation with regard to married versus single, in a single income household?

Thanks

 

[jimbo007]

Hi Olive,

I don't want to hijack your thread but I'm in a similar position asking a similar question.
I'm currently out of work, am unmarried with two children. For social welfare purposes, we're cohabiting therefore get a smaller payment than if we lived apart.
If (and when) I'm back in employment, can I claim her tax credits, or do I have to be married for this?

Can somebody clarify this similar position also regarding married versus cohabiting?

Thanks

 

[Balou]

When you go back to work Revenue will still see you as single. Social Welfare consider you a couple and revenue consider you single. The government make / retain more money that way.

While out of work your wife could claim your tax credits if you were married however not if you are just cohabiting. Any benefits you get would take her income into account either way.

In short you would probably be financially better if you got married but is that really a good enough reason to do it?