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Getting married

  • 29-02-2016 3:22pm
    #1
    Banned (with Prison Access) Posts: 2,030 ✭✭✭


    folks, if you were lucky enough to have your future missus propose to you today :P in terms of tax, will your take home pay be more or less after getting married? if both spouses were on roughly the same money, no kids. :confused:


Comments

  • Registered Users, Registered Users 2 Posts: 5,128 ✭✭✭homer911


    You should not be worse off, if both are in employment. Its possible that if you are in receipt of social welfare benefits and currently living apart, that those benefits would reduce when living under the same roof


  • Banned (with Prison Access) Posts: 2,030 ✭✭✭jezzer


    homer911 wrote: »
    You should not be worse off, if both are in employment. Its possible that if you are in receipt of social welfare benefits and currently living apart, that those benefits would reduce when living under the same roof

    no, both in full time employment


  • Moderators, Category Moderators, Arts Moderators, Business & Finance Moderators, Entertainment Moderators, Society & Culture Moderators Posts: 18,327 CMod ✭✭✭✭Nody


    Nothing should change then as you both use the full tax credits available to you both already.


  • Banned (with Prison Access) Posts: 2,030 ✭✭✭jezzer


    Nody wrote: »
    Nothing should change then as you both use the full tax credits available to you both already.

    so we would still be bringing home the same pay?


  • Registered Users, Registered Users 2 Posts: 26,011 ✭✭✭✭Mrs OBumble


    If she proposed today - that makes no difference. No tax credits just for being engaged!

    Once you marry, there is no difference in that year.

    If you fill in the right paperwork (something like an election for join assessment .. may have the jargon slightly wrong), then any changes take place from the start of the next financial year.

    Even then, if you are earning roughly the same amount then it makes no difference - unless one of you is just under and one just over either one of the tax thresholds (20k or 32,800), or one of you qualifies for some other tax credits (eg over 65).


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  • Banned (with Prison Access) Posts: 2,030 ✭✭✭jezzer


    If she proposed today - that makes no difference. No tax credits just for being engaged!

    Once you marry, there is no difference in that year.

    If you fill in the right paperwork (something like an election for join assessment .. may have the jargon slightly wrong), then any changes take place from the start of the next financial year.

    Even then, if you are earning roughly the same amount then it makes no difference - unless one of you is just under and one just over either one of the tax thresholds (20k or 32,800), or one of you qualifies for some other tax credits (eg over 65).

    so effectively both of us will be better off in terms of our take home pay when married if both of us are within the tax threshold?


  • Moderators, Science, Health & Environment Moderators Posts: 23,222 Mod ✭✭✭✭godtabh


    jezzer wrote: »
    so effectively both of us will be better off in terms of our take home pay when married if both of us are within the tax threshold?

    No. Nothing changes. You get the same credits if joint assessed and are on the same wage.

    If there was a big gap in wages it might make sense to allow for the higher earner to use more credits.


  • Registered Users, Registered Users 2 Posts: 25,476 ✭✭✭✭coylemj


    If both of you pay the same rate of PAYE at the top of your income (i.e. in the December payroll), it will make no difference. Where you could benefit from joint assessment is where one of you pays tax at 20% only and the other at 40% but the person on the lower wage is not using all of the 20% band. In that case joint assessment would allow the person on the higher wage to hoover up the unused part of the spouse's 20% band and pay less tax.


  • Registered Users, Registered Users 2 Posts: 7,729 ✭✭✭Millem


    It depends on how much you earn.


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