Tax Credits & Reliefs >> Tax Credits & Reliefs

Tags: tax credits, married tax rates, single tax rates

Introduction

Everybody is entitled to a basic personal tax credit. The amount of your tax credit depends on your personal status i.e. Married, Single, Widowed or One Parent Family. We explain below under each heading the conditions for the relevant tax credit.

In addition, PAYE earners are entitled to a PAYE tax credit. This credit is not allowed to shareholder/directors who own more than 15% of the company. In addition children of such shareholder directors working in the business on a part time basis are not allowed the PAYE credit. 

For the 2011 tax year all personal tax credits have been reduced by circa 10%. In addition the 20% tax rate band has also been reduced. The combination of these changes means that a single person who is a PAYE earner can only earn up to €16,500 tax free compared to €18,300 for 2010. A married couple with one PAYE earner entitled to the PAYE tax credit can earn up to €24,750 tax free compared to €27,450 for 2010. If both spouses are PAYE earners and entitled to the PAYE tax credit, they can earn up to €33,000 tax free compared to €36,600 for 2010. This is why we will all be paying more tax in the years ahead

 

In addition PRSI and the new Universal Social Charge ( which replaced the Health Levy and the Income Levy for 2011 onwards) will be charged on gross income. 

We provide information on the following matters:

  • Married Persons Tax Credit
  • Marriage During Tax Year
  • Separated Couples
  • Single Persons Tax Credit
  • Widowed Persons Tax Credit
  • Chart of Tax Credits and Reliefs
  • Personal Tax Credits
  • Personal Tax Reliefs
  • PRSI and the Universal Social Charge
  • Personal Tax Exemptions
  • Tax Reliefs for Age 65 and Over

Expert Tax Library

Age 65 and Over

PAYE Taxpayers

Tax Credits & Reliefs