Monday 27 March 2017

Married couple own home

Income €80,000

Verdict €133 monthly loss

Eileen and Jason are a married couple with no children who own a house bought more than eight years ago with a mortgage of €150,000. Jason is an IT manager and earns €80,000 and has a company car worth €35,000. He has annual business mileage of 19,000 miles and his employer pays all the running costs of the car.

Eileen and Jason will be affected by the reduction in tax credits and reduction in the married person tax band. They will also be affected by the proposal to introduce a Universal Social Charge in 2011, which will replace Health Levy and Income Levy. We have assumed that there are no changes in relation to the Benefit in Kind rules for company cars.

How it compares



Gross income



Benefit in kind



Taxable income



Income tax (before credits)



Total credit






Universal social charge

(Income and health levies)



Net income



Total deductions

percentage of gross income



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