Tax situation after marraige

Gryzor

got married back in october last year, haven't looked at the tax implications of this yet...

As far as i know our tax credits can be shared depending on salary situations. My question is can we do the same thing with the band cutoffs?? can these be moved around depending on salary levels??

kluivert

As no one else jumped in.....

Yes, standard cut off point can also be changed to suit income levels.

The standard band should also be increased now that you guys are married compared to when you guys where single. It use to be increased by 19k so long as the spouse was earning at least 19k, not sure if that fig has changed or not.

Fishyfreak

You can also get a "Year of Marriage Review". You may be entitled to a small refund. Check it out on the revenue website.

Mr. Incognito

Sorry, been away recently.

When you are married you can be jointly assessed or elect for seperate assessment. which is more beneficial depends on circumstance. if you only have one spouse working then elect for joing assessment. This is done by sending a copy of your marraige cert to your local tax district. the stay at home spouce may be entitled to homecarer credits etc. If the second spouse earns over the 40k mark you're generally better off to stay seperately assessed.

For the year of marraige there is what's know as a year of marraig relief where you can elect to be jointly assessed from the date of marraige and where there would have been a saving the difference is refunded.

Ginger83

Sorry to butt in but I'm curious to know, how would the tax implications work out if a couple married abroad?

preilly79

there should be no implications. I was married in the united states and so as long as the marriage is considered legal in state in which you were married then the Irish state will recognise your marriage as valid.