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Taxes

  • 20-12-2018 7:29pm
    #1
    LegacyUser
    Registered Users, Registered Users 2 Posts: 166,026 ✭✭✭✭


    Is all income in Ireland subject to taxes? Can you earn a certain amount a year before income tax kicks in?


Comments

  • #2
    wiggle16
    Moderators, Society & Culture Moderators Posts: 3,022 Mod ✭✭✭✭wiggle16


    Not a personal issue. Moved to tax forum - new charter applies.


  • #3
    Peregrinus
    Registered Users, Registered Users 2 Posts: 26,713 ✭✭✭✭Peregrinus


    Slight oversimplification here, but it basically works like this:

    1. All your income is subject to income tax.

    But . . .

    2. Everybody is entitled to tax credits - amounts which you deduct from your income tax bill.

    The amount of tax credits depeneds on your circumstances, but everyone is entitled to some tax credits. The lowest amount you can be entitled to is, I think, currently €1,650 (and most people who have are earning money will be entitled to more than this). So if the tax on your income comes to €1,650 or less, when you deduct your tax credit the amount remaining payable is nil.

    So, basically, all income in Ireland is subect to taxes, in the sense that it's taken into account in calculating what income tax is due. But if your income is low enough, the calculation may show tha the income tax due is nil.


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