Bonus Payment

[InfoSeeker]

Hi,

I am earning over the threshold for 20% tax and this month I am getting a 1500 payment as past of an internal employee referral scheme.

My question is that I know that this will be subject to 42% tax but waht other taxes are it subject to, eg PRSI and Health Levy, and if it is subject to those what are the rates for someone who earns 33,000

Thanks

 

[ClubMan]

If you are in the 42% tax bracket and on Class A1 PRSI then the bonus will be subject to 42% income tax, 4% PRSI and 2% health levy - i.e. 48% in total before tax credits are deducted from gross tax.

To gauge the effect that this bonus has on your annual gross, net and deductions see [broken link removed].

 

[InfoSeeker]

Thanks for that Clubman, clear and concise, much appreciated.