Recently got married and will be amending my status with the revenue shortly. My wife does not work at present. What is the best option for my tax situation. Salary about 55k.
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Recently got married and will be amending my status with the revenue shortly. My wife does not work at present. What is the best option for my tax situation. Salary about 55k.
Bear in mind that for the remainder of 2007 you will be taxed on the existing basis. You will then change to your new choice of basis from 01/01/08. You may have 2007 reviewed as "year of marriage" after the end of the year and any excess tax paid since your marriage date refunded. This usualy generates a refund where one party is paying tax at the higher rate ( as you would be ) and gets the benefit of the higher standard rate cut-off point for one income households,presently €43,000, as against the single SRCOP off €34,000 . Make sure to submit to Revenue for a claim after end 2007 as this may apply to you with your spouse not working. ( and congratulations to you both )