filling out a Joint taxation form.

Hatchetman

Registered User
Messages
33
I got married last year and now want my new tax status updated, I got the form from the revenue but I'm not entirely sure how to go about it. I earn about 30k gross and my wife, who's teaching earns about 60k gross and around another 10k on correcting exams, orals etc. Obviously as she earns the most she should get most of the tax credits if not all, but how much so as we can maximise our money.
 
Under joint assessment you can potentially earn €72,800 between you at the standard (20%) rate. However if either earns in excess of €45,400 then the excess is at the higher (41%) rate. This is the Standard Rate Cut off Point. Your wife is going to suffer 41% on some income. You, on the other hand could pay 20% only. You could ask for the SRCOP to be split €42,800 to her and €30,000 to you. She would pay 20% on the first €42,800 and 41% on the excess over €42,800 and you would pay 20% on the €30,000. As regards Tax Credits you would have €1,830 each personal and €1,830 each PAYE credits. You could allocate the €1,830 personal credits to one or other of you or keep your respective amounts, the PAYE credit must stay with each of you as it is non-transferable. You need to complete the joint assessment application and nominate one of you to be the assessable spouse. That's just the person Revenue consider the first named for correspondence Tax Returns etc.

Other posters may have other ideas on this.