Tax Rebate due when made redundant and no work between Oct and Dec 2009

Hi,

Looking for guidance on approx tax rebate due to myself if I am to be made redundant in September and do not work from October to December 2009.

From Jan 2009 to end August 2009, my gross earnings were €62,000 and I had paid tax of €17,000.
In September i will receive my last payroll payment of approx €15,000 gross (last salary payment + holidays outstanding + bonus due). I expect to pay tax of approx €5,200 on this.
Also at end September I will receive redundancy payment of approx €110,000 gross (includes statutory (14k) & ex gratia (80k) & notice period (17k). I will be taking a tax free sum of approx 56k under SCSB from the taxable part (80k ex grat & 17k notice period) leaving me a taxable lump sum of approx 40k, on which i will pay approx 50% tax (41% income tax, 4/5% income levy & 4/5% health levy) . Therefore will pay 20k tax on redundancy package

I know i can claim Top Slicing on the taxable element of the redundancy package and will also be able to claim back over payment on the income levy from the revenue at year end.

If i do not find work until Jan 2010, roughly what income tax can i claim back?

Am i correct in saying that each month I have a tax credit of 312.58 which means i would be due all of this back i.e €937.74 for the 3 months?
Also the monthly standard rate cut off is €3040.42. As i will not have any income for the period October to December do i get some of the tax back i paid at 41% whilst i was employed? i.e get back 3040.42* (41%-20%) = €638.49 per month or €1,915.47 for the 3 months?

Would appreciate any input,

Regards,

Cully

Don't forget to include the jobseekers benefit in your calc. This is payable.

Also don't forget to reclaim PRSI. You may not be able to get a refund for the health levy.

Asdfg,

When you refer to Job Seekers benefit, do you mean include it as taxable income for the period Oct to Dec? I dont think i can claim jobseekers until 9 weeks after i am made redundant due to my exit package.

Good tip on the PRSi claim - had forgotten that. You are correct -health levy is not refundable

You will find information here:

[broken link removed]

I don't believe that you can reclaim PRSI but you may be able to reclaim some of the Health Contribution (although the amounts reclaimable are tiny~ just the 'extra high' amount effectively, but 'every little counts'- see the top of this page:

http://www.welfare.ie/EN/Publications/sw14_apr09/Pages/ImportantInformation.aspx

Good luck with the job-hunt.