Income Tax

Old Jul 22nd 2006, 12:35 am
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Default Income Tax

Hi

Can anyone confirm or deny the following for me.

If a job pays 18000 euro's a year, that will equate to 1500 euro's per month (gross)

Net pay somewhere around 1200 euro's?? would that be about right, or am I really bad at maths?

Rick
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Old Jul 22nd 2006, 2:54 am
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Default Re: Income Tax

Originally Posted by rickstevens
Hi

Can anyone confirm or deny the following for me.

If a job pays 18000 euro's a year, that will equate to 1500 euro's per month (gross)

Net pay somewhere around 1200 euro's?? would that be about right, or am I really bad at maths?

Rick
Assuming you are single and get only the basic allowances the tax due, based on last years figures would be €2560.
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Old Jul 22nd 2006, 5:14 pm
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Default Re: Income Tax

Originally Posted by Fred James
Assuming you are single and get only the basic allowances the tax due, based on last years figures would be €2560.
I'm married, what allowances would I get basd on that?
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Old Jul 22nd 2006, 6:33 pm
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Default Re: Income Tax

Originally Posted by rickstevens
I'm married, what allowances would I get basd on that?
If you choose to be taxed jointly, then you will each get a personal allowance of 3600. This extra allowance will reduce your tax by 864 euros.
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Old Jul 22nd 2006, 7:44 pm
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Default Re: Income Tax

Originally Posted by Fred James
If you choose to be taxed jointly, then you will each get a personal allowance of 3600. This extra allowance will reduce your tax by 864 euros.
Thanks for the info Fred - very useful. Do you pay your tax on a PAYE system like in the UK, or do you just get a bill at he end of the year?
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Old Jul 22nd 2006, 10:00 pm
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Default Re: Income Tax

Originally Posted by rickstevens
Thanks for the info Fred - very useful. Do you pay your tax on a PAYE system like in the UK, or do you just get a bill at he end of the year?
If you have a job with a contract you will have tax deducted like PAYE in the UK.

If you want to claim any special allowances then you have the option to make a declaration at the end of the tax year to claim back any overpaid tax. If you are happy with the tax deducted then you do nothing.

If you earn over 22000 you must make a declaration each year.

The tax year is the calendar year and you make the declaration during May and June the following year.
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