Monday 23 October 2017

Single person living at home

Income €35,000

Verdict €41 monthly loss

Suzanne works as an administrator and earns €35,000 a year. She is single and is living at home with her parents.

Suzanne will be affected by the reduction in tax credits and reduction in the single person tax band. Suzanne will also be affected by the proposal to introduce a Universal Social Charge in 2011, which will replace the Health Levy and Income Levy.



How it compares

2010

2011

Gross income

€35,000

€35,000

Taxable income

€35,000

€35,000

Income tax (before credits)

€7,000

€7,462

Total credit

€3,660

€3,300

PRSI

€1,136

€1,136

Universal social charge

(Income and health levies)

€2,100

€1,769

Net income

€28,424

€27,933

Total deductions

percentage of gross income

18.79%

20.19%

Also in Business