What will he clear?

[Ludmilla]

Roughly how much would a married man with 2 children clear if he is on a salary of €54,000?


I hope this doesn't sound like a lazy question.

Believe me we have tried to figure this out but as both of us have been self-employed for many, many years the world of PAYE is completely alien to us. We keep coming up with different answers each time....

 

[dooloo]

Assuming the wife has no income and there are no other reliefs claimed, the net should work out like this:-

€44,400 x 20%= 8,880
€9,600 x 41%= 3,936
less credits
Married (3,660)
PAYE - (1,830)

Tax= 7,326

PRSI
6604 at 2%= 132
47396 at 6%= 2,844

Total tax & prsi= 10302

Net= 43698

 

[dooloo]

There is also a home carer's credit of €900 which can be claimed if the spouse has little or no income

 

[Joe1234]

There is also a home carer's credit of €900 which can be claimed if the spouse has little or no income

Maybe not if the increase in the rate band is more beneficial.

 

[Ludmilla]

Thank you very much for the help.

I appreciate it.