It's not a €5,000 drop in salary. The maximum it can be is €2,490 for someone who pays 41% tax. The credit is €1,650 and the additional rate band is worth €840 - i.e. €4,000 @ additional 21% = €840.
It's not a €5,000 drop in salary. The maximum it can be is €2,490 for someone who pays 41% tax. The credit is €1,650 and the additional rate band is worth €840 - i.e. €4,000 @ additional 21% = €840.
Im no tax expert but if you are a high rate tax payer and you lose €2490 net of tax - is that not the same as your boss knocking 5000 off your gross salary?? No difference as far as i can see - its a massive loss for most separated dads - dont you agree??
Just got my 2014 tax free allowance cert - confirmation of worst fears
Tax credit down by 1650 and standard threshold down by 4000 - equivalent loss of 5000 gross income
gonna be a tough year - what a shame labour in government doesnt look after minorities
I got my first payslip of the year last Friday and was down €48. tried ringing Revenue but hanging on for ages. has anyone applied for the new credit yet?