I will be starting a PhD in October (after more than 10 years of working in the software industry) and have managed to wangle a 20K bursary from the university. I think the bursary will have about 4K in fees deducted. I will also have to provide 2 hours of lecturing per week.
I will also be earning substantially more than the bursary from part-time work.
Having visited the revenue web-site, my understanding is that such bursaries are tax-free, but that the proportion earned from the 2 hours lecturing would not be tax free. My understanding is also that the proportion of the bursary that is tax-free will remain so, even if I earn another 30K from part-time work.
I'm not sure how the deduction of fees affects anything. I presume it makes no difference to the tax situation.
Can any tax experts or former/current PhD/Masters researchers clarify whether my assumptions are correct or add any additional information?
I will also be earning substantially more than the bursary from part-time work.
Having visited the revenue web-site, my understanding is that such bursaries are tax-free, but that the proportion earned from the 2 hours lecturing would not be tax free. My understanding is also that the proportion of the bursary that is tax-free will remain so, even if I earn another 30K from part-time work.
I'm not sure how the deduction of fees affects anything. I presume it makes no difference to the tax situation.
Can any tax experts or former/current PhD/Masters researchers clarify whether my assumptions are correct or add any additional information?