Hi
I have a question about the new Maternity Benefit tax that is due to come into being in July of this year.
I am a self-employed IT contractor and am very confused about this tax. I am due, if all goes according to plan, to go on maternity leave some time during the last week in June.
I read an article in one of the daily papers last week in which Michael Noonan said that the new tax was applicable only to those women who receive a "top-up" on their maternity pay from their employers.
So I thought, great, that doesn't mean me as I will only receive the state materinty benefit once I finish up work in June.
I am not expecting to go back to work before the end of the year as my role in the company is for the chop anyway.
But then I read a day or two later that it will be applicable to all income that is earned during the year of 2013.
So in my case I am expecting to earn €25k between Jan & Jun 2013 & then to receive approx €6k in maternity benefit after that; therefore my tax bill for the year 2013 will be based on €25k+€6k.
Is that correct? Or have I got it totally arseways?
Thanks in advance for your help.
I have a question about the new Maternity Benefit tax that is due to come into being in July of this year.
I am a self-employed IT contractor and am very confused about this tax. I am due, if all goes according to plan, to go on maternity leave some time during the last week in June.
I read an article in one of the daily papers last week in which Michael Noonan said that the new tax was applicable only to those women who receive a "top-up" on their maternity pay from their employers.
So I thought, great, that doesn't mean me as I will only receive the state materinty benefit once I finish up work in June.
I am not expecting to go back to work before the end of the year as my role in the company is for the chop anyway.
But then I read a day or two later that it will be applicable to all income that is earned during the year of 2013.
So in my case I am expecting to earn €25k between Jan & Jun 2013 & then to receive approx €6k in maternity benefit after that; therefore my tax bill for the year 2013 will be based on €25k+€6k.
Is that correct? Or have I got it totally arseways?
Thanks in advance for your help.