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tax exemption

  • 23-03-2010 12:44am
    #1
    Fondu
    Registered Users Posts: 76 ✭✭


    I was wondering what is the maximum amount a person can earn before being taxed at 21%

    http://www.revenue.ie/en/tax/it/leaflets/it1.html

    Is it 20,000
    tax credit - 1830
    totaling -21830.

    Am i correct in saying this or is it less or more..im also not including the income levy of 1-2%


Comments

  • #2
    gerrybbadd
    Registered Users, Registered Users 2 Posts: 10,301 ✭✭✭✭gerrybbadd


    Fondu wrote: »
    I was wondering what is the maximum amount a person can earn before being taxed at 21%

    http://www.revenue.ie/en/tax/it/leaflets/it1.html

    Is it 20,000
    tax credit - 1830
    totaling -21830.

    Am i correct in saying this or is it less or more..im also not including the income levy of 1-2%
    Theres at least 4 errors here... Basic tax rate is 20%

    Depending on your age it could be 20000, or 18250 if your under 65 years of age.

    18250 @ 20% = 3650 Tax Due. Tax credits of 3660 - no tax due (figures are slightly rough) = no tax liability

    If over 65, exemption limit for PAYE increases to 20000


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