Can anyone help woth may Tax calculation

S

stuart1976

Guest
I'm due to move to ireland very soon and was hoping someone could help me work out my tax payments.

I am single and under 65 so after reading the official revenue pages http://www.revenue.ie/ I calculated that I was entitled to E 1,520 (single persons tax credit) and E 1,040 (PAYE Tax Credit)

I entered my salary (65K) on [broken link removed] it says that I have tax credits at the following values E7,900 Personal Allowance & E 6,350 PAYE Allowance and I can't understand where these figures come from.

Can anyone tell me where these figures are coming from???

Am I missing something??????

Thanks
 
Actually your tax credits for 2005 are €1,580 single person's credit and €1,270 PAYE credit. See [broken link removed]. A significant quirk of Karl's calculator is that he still uses a tax free allowance approach to calculating figures in order to maintain easy backward compatibility with pre-tax credit tax years. This is how he simplifies matters in order to support calculating figures for many years back. However it does make things confusing on closer examination. Basically the tax credits above have been converted into standard rated tax free allowances as follows: €1,580 / 20 * 100 = €7,900 and €1,270 / 20 * 100 = €6,350. Not sure how much sense that makes but the final figures are the same and should be correct unless you have other credits or allowances not catered for by the calculator. Hope this helps.
 
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