Joint Assessment

G

Gal1

Registered User
Messages
18
Hi,
I have a couple of questions someone maybe able to answer.
What are the benefits of joint assessment? I have looked on the
revenue website but there seems to be v little info. I am earning more
than my husband approx €42K.
My husband is earning €20K
Currently assessed as single people. What tax credits and any other benefits can I take so that we are better off.


Thanks
Gal1
 
The tax credits that you are entitled to take will depend on your circumstances. This [broken link removed] should give you an idea as to what you may qualify for.

With regard to your income. Assuming that you are earning €42k for 2006 and your husband earned €20k for 2006 then, on the face of it, you would be better off being jointly assessed. This is because you would be able to use up a portion of your husbands unused standard rate tax band.

To get specifics as to exactly how much better off you would be you should speak to an advisor.
 
You can estimate the difference between joint/aggregated married taxation and assessment as separate individuals* using Karl Grabe's tax calculator. For the first scenario enter the married details. For the second enter each spouse's earnings separately as individuals and then sum up the results. Chances are you will be better off on joint/aggregated rather than on assessment as two separate individuals.

* Note that this is not the same as individual married assessment which treats you as individuals through the year but balances out to the same as joint/aggregated assessment once you claim any overpayments of tax on the basis of your married status at the end of the year. As you can see from the Revenue website there are, in fact, three options for married couples and one of them is to completely ignore their married status.
 
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