|
Married couple, two incomes, two children taxed under PAYE |
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|
Full rate PRSI contributors |
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|
GROSS |
PRSI/Levy Liability |
Tax Liability |
Child Benefit |
Total |
Gain as % of |
Total Gain where |
Gain including FIS |
||
|
INCOME |
Existing |
Proposed |
Existing |
Proposed |
Increase (a) |
Gain |
Net Income (b) |
FIS applies (c) |
as % of Net Income (d) |
|
€ |
€ |
€ |
€ |
€ |
€ |
€ |
% |
€ |
% |
|
12,000 |
0 |
0 |
0 |
0 |
144 |
144 |
1.0 |
664 |
3.4 |
|
13,000 |
0 |
0 |
0 |
0 |
144 |
144 |
0.9 |
664 |
3.3 |
|
14,000 |
0 |
0 |
0 |
0 |
144 |
144 |
0.9 |
664 |
3.3 |
|
15,000 |
0 |
0 |
0 |
0 |
144 |
144 |
0.8 |
664 |
3.2 |
|
16,000 |
0 |
0 |
0 |
0 |
144 |
144 |
0.8 |
664 |
3.1 |
|
17,000 |
0 |
0 |
0 |
0 |
144 |
144 |
0.7 |
664 |
3.1 |
|
18,000 |
0 |
0 |
0 |
0 |
144 |
144 |
0.7 |
664 |
3.0 |
|
19,000 |
0 |
0 |
0 |
0 |
144 |
144 |
0.7 |
664 |
3.0 |
|
20,000 |
0 |
0 |
0 |
0 |
144 |
144 |
0.6 |
144 |
0.6 |
|
25,000 |
386 |
386 |
640 |
360 |
144 |
424 |
1.6 |
424 |
1.6 |
|
30,000 |
906 |
906 |
1,640 |
1,360 |
144 |
424 |
1.4 |
424 |
1.4 |
|
35,000 |
1,101 |
1,101 |
2,640 |
2,360 |
144 |
424 |
1.3 |
424 |
1.3 |
|
40,000 |
1,296 |
1,296 |
3,640 |
3,360 |
144 |
424 |
1.1 |
424 |
1.1 |
|
45,000 |
1,857 |
1,857 |
4,640 |
4,360 |
144 |
424 |
1.0 |
424 |
1.0 |
|
50,000 |
2,122 |
2,122 |
5,640 |
5,360 |
144 |
424 |
0.9 |
424 |
0.9 |
|
55,000 |
2,772 |
2,772 |
6,640 |
6,360 |
144 |
424 |
0.9 |
424 |
0.9 |
|
60,000 |
3,061 |
3,072 |
8,520 |
8,240 |
144 |
414 |
0.8 |
414 |
0.8 |
|
70,000 |
3,437 |
3,494 |
12,720 |
12,440 |
144 |
367 |
0.6 |
367 |
0.6 |
|
80,000 |
3,807 |
3,864 |
16,920 |
16,640 |
144 |
367 |
0.6 |
367 |
0.6 |
|
90,000 |
4,168 |
4,230 |
21,120 |
20,840 |
144 |
362 |
0.5 |
362 |
0.5 |
|
100,000 |
4,528 |
4,585 |
25,320 |
25,040 |
144 |
367 |
0.5 |
367 |
0.5 |
|
110,000 |
4,878 |
4,940 |
29,520 |
29,240 |
144 |
362 |
0.5 |
362 |
0.5 |
|
120,000 |
5,123 |
5,237 |
33,720 |
33,440 |
144 |
310 |
0.4 |
310 |
0.4 |
|
130,000 |
5,349 |
5,468 |
37,920 |
37,640 |
144 |
305 |
0.3 |
305 |
0.3 |
|
This example assumes that the joint income is divided by 65% and 35% between both spouses. |
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(a) Value during 2003 of the increase in Child Benefit (CB) made in the Budget, which is effective from April, 2003 (i.e. assuming 9 months of CB increase). |
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|
(b) Net income includes CB less deductions of tax, levy and PRSI (where appropriate) and so may be higher than the gross income. |
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|
(c) The two last columns show the total gain where Family Income Supplement (FIS) is taken up in both years. The gain includes the value during 2003 of the |
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|
improvement in FIS made in this Budget which take effect from January, 2003. |
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|
(d) Net income includes CB and FIS (where relevant) less deductions of tax, levy and PRSI (where appropriate) and so may be higher than the gross income. |
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EXAMPLE 4