|
EXAMPLE
8
|
|
Married
couple, one income, four children taxed under PAYE
|
|
Modified
rate PRSI contributor
|
|
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
|
324
|
324
|
1.8
|
844
|
3.5
|
|
13,000
|
0
|
0
|
0
|
0
|
324
|
324
|
1.7
|
844
|
3.4
|
|
14,000
|
0
|
0
|
0
|
0
|
324
|
324
|
1.6
|
844
|
3.3
|
|
15,000
|
123
|
123
|
0
|
0
|
324
|
324
|
1.6
|
844
|
3.3
|
|
16,000
|
132
|
132
|
0
|
0
|
324
|
324
|
1.5
|
844
|
3.3
|
|
17,000
|
141
|
141
|
0
|
0
|
324
|
324
|
1.4
|
844
|
3.2
|
|
18,000
|
150
|
150
|
0
|
0
|
324
|
324
|
1.4
|
896
|
3.3
|
|
19,000
|
539
|
539
|
0
|
0
|
324
|
324
|
1.3
|
844
|
3.1
|
|
20,000
|
568
|
568
|
0
|
0
|
324
|
324
|
1.3
|
844
|
3.1
|
|
25,000
|
713
|
713
|
530
|
390
|
324
|
464
|
1.6
|
464
|
1.6
|
|
30,000
|
858
|
858
|
1,530
|
1,390
|
324
|
464
|
1.4
|
464
|
1.4
|
|
35,000
|
1,003
|
1,003
|
2,530
|
2,390
|
324
|
464
|
1.2
|
464
|
1.2
|
|
40,000
|
1,137
|
1,148
|
4,190
|
4,050
|
324
|
453
|
1.1
|
453
|
1.1
|
|
45,000
|
1,238
|
1,253
|
6,290
|
6,150
|
324
|
449
|
1.0
|
449
|
1.0
|
|
50,000
|
1,339
|
1,354
|
8,390
|
8,250
|
324
|
449
|
1.0
|
449
|
1.0
|
|
55,000
|
1,440
|
1,455
|
10,490
|
10,350
|
324
|
449
|
0.9
|
449
|
0.9
|
|
60,000
|
1,541
|
1,555
|
12,590
|
12,450
|
324
|
449
|
0.9
|
449
|
0.9
|
|
70,000
|
1,742
|
1,757
|
16,790
|
16,650
|
324
|
449
|
0.8
|
449
|
0.8
|
|
80,000
|
1,943
|
1,957
|
20,990
|
20,850
|
324
|
449
|
0.7
|
449
|
0.7
|
|
90,000
|
2,143
|
2,158
|
25,190
|
25,050
|
324
|
449
|
0.7
|
449
|
0.7
|
|
100,000
|
2,344
|
2,359
|
29,390
|
29,250
|
324
|
449
|
0.6
|
449
|
0.6
|
|
110,000
|
2,544
|
2,559
|
33,590
|
33,450
|
324
|
449
|
0.6
|
449
|
0.6
|
|
120,000
|
2,745
|
2,760
|
37,790
|
37,650
|
324
|
449
|
0.5
|
449
|
0.5
|
|
130,000
|
2,945
|
2,960
|
41,990
|
41,850
|
324
|
449
|
0.5
|
449
|
0.5
|
|
(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).
|
|
(b) Net income includes CB less deductions
of tax, levy and PRSI (where appropriate) and so may be higher
than the gross income.
|
|
(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
|
|
improvement in
FIS made in this Budget which take effect from January, 2003.
|
|
|
|
(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.
|
|