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Put your questions about income tax to John from Red Oak Tax Refunds

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  • 09-12-2009 8:18pm
    #1
    Darragh
    Closed Accounts Posts: 4,241 ✭✭✭


    Hiya

    I'm delighted to welcome John from Red Oak Tax Refunds onto the forum to answer any queries you might have regarding your income, taxes and all that sort of stuff as a result of today's budget.

    Red Oak Tax Refunds (John)
    Red Oak Tax Refunds, registered as Tax Agents with the Revenue Commissioners and specialising in PAYE tax are based in Carlow. They have been producing tax refunds for customers since 2007 and are proud to offer excellent service, customer focus and a skilled tax refund team.

    They have a budget calculator on their site - it's currently being updated with today's results - where you can calculate if you'll be better or worse off as a result of today.

    So, if you have any questions that John can help you with, please put them below and he'll do his best to get a reply to you :)

    Darragh


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    #2
    A Doozer
    Closed Accounts Posts: 157 ✭✭A Doozer


    Hi John,

    Thanks for this. A vague one to get you started. For someone on €55k a year how bad was this budget?


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    #3
    ParkRunner
    Registered Users Posts: 3,032 ✭✭✭ParkRunner


    A single person with no children earning in and around the average industrial wage - 35k.
    What will be their take home pay, taking compulsory deductions into account, if they were 1) a public sector worker and 2) a private sector worker?

    Thanks


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    #4
    Red Oak Tax Refunds: John
    Closed Accounts Posts: 16 ✭Red Oak Tax Refunds: John


    A Doozer wrote: »
    Hi John,

    Thanks for this. A vague one to get you started. For someone on €55k a year how bad was this budget?

    Hi Doozer, we've got the calculator live now, so you can check for yourself!

    Unless you are in the public sector (as EF makes the point), there will be no changes to your Income Tax bill - It's in the sundries that you might feel the hit. We've included the Public sector hit in the calculations

    You can also see how much Child Benefit, Carbon Tax and general booze spend will affect you.


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    #5
    namenotavailablE
    Registered Users Posts: 59,625 ✭✭✭✭namenotavailablE


    @ EF:

    1) [Assuming that the PS workers reduced pay in 2010 will be €35000]
    The net pay would be €27051 (if they joined the PS after April 1995) or €26825 (if they joined prior to April 1995)
    2) A private sector worker on €35000 gross would net €29054 in 2010

    Free Excel net pay calculator- https://taxcalc.eu/monthlyss/Employee%20PAYE%20calculator.xlsm



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    #6
    Red Oak Tax Refunds: John
    Closed Accounts Posts: 16 ✭Red Oak Tax Refunds: John


    If your not in the Public Sector, then the main change is the child Benefit.

    Unless you're in the Drugs Payment Scheme, where you now have to pay €120 a month rather than €100 previously, that's an extra €240 a year, ouch.
    That's lot of money on top of the stress of having an illness that needs that type of treatment cost...


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