F
feoras
Guest
Here's the situation.
We are a married retired couple. I have a small public service pension and my wife receives an even smaller public service pension and Disability Allowance due to an occupational disability.
We have some equipment that a public body wants to hire for about 3500 euro.
If I take the money, it will push me just above the threshold for PRSI and I will be hit with a bill for that and I'm not sure how that affects my pension. On the other hand, if my wife takes the payment she will still remain below all thresholds and we are not liable for any taxes or PRSI. So this would seem to be a better option.
The problem is can she take this money while on disability?
As far as I understand the rules for disability allowance, she cant work except for rehabilitation. Technically she is not working because somebody is just renting our equipment. Do they see it this way?
As its a public body, she will require a tax clearance certificate. I believe this means she will be required to register as self assessed. How will this affect her?
We could really use the money but not at the risk of losing out in the long run.
So as her income is so low, can we combine our PRSI threshold like our tax credits to stay below the limit as a couple?
Thanks in advance.
Jon
We are a married retired couple. I have a small public service pension and my wife receives an even smaller public service pension and Disability Allowance due to an occupational disability.
We have some equipment that a public body wants to hire for about 3500 euro.
If I take the money, it will push me just above the threshold for PRSI and I will be hit with a bill for that and I'm not sure how that affects my pension. On the other hand, if my wife takes the payment she will still remain below all thresholds and we are not liable for any taxes or PRSI. So this would seem to be a better option.
The problem is can she take this money while on disability?
As far as I understand the rules for disability allowance, she cant work except for rehabilitation. Technically she is not working because somebody is just renting our equipment. Do they see it this way?
As its a public body, she will require a tax clearance certificate. I believe this means she will be required to register as self assessed. How will this affect her?
We could really use the money but not at the risk of losing out in the long run.
So as her income is so low, can we combine our PRSI threshold like our tax credits to stay below the limit as a couple?
Thanks in advance.
Jon