Just a quick summary of the prevailing Income tax rates in Ireland
(1) Income Tax
(a)Exempt
If
you are 65years of age or older then any Income below 18000 for a
single person and below 36000 for a married couple is exempt from Income
tax but you may be liable to the Universal service charge (details in
next article). These are increased by 575 for your first and second
child and 830 for every other child
(b) 20% This is charged on your income up to
32800 for single person
36800 for one parent family
41800 for married couple this can be increased up to 65600 based on the lower of the two incomes
(c) 41% which is applied to all income above the bands for the 20% rate
I will go through the other tax rates and how to actually calculate your income tax in next blog posts
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