Budget calculator

INCOME 2009 Budget 2010 Budget
Annual Salary
Benefits in Kind/Notional Pay
Pensions
Investment income
Other Sources
Gross Income
Allowances
This section is for allowances on which tax relief is given at your top rate of tax. Examples include: Agreed Work Expenses, Allowance for Person Employed to take care of incapacitated individual and expenditure in respect of qualified nursing home expenses.
TAXABLE INCOME
Single /Widowed
Lone Parent
Married (one income)
Married (two incomes)
PERSONAL TAX CREDIT
Personal Tax Credit
BIK Relief : Preferential home loan interest:
BIK Relief : VHI/BUPA paid by employer:
INCOME LEVY

TAX DUE
PRSI
Health Levy
TOTAL DEDUCTIONS FROM INCOME
Net Income
Additional income - child benefit  

Child Benefit 2010: Children Child Benefit rates will be reduced by €16 per month from January 2010 bringing the lower rate to €150 per month and the higher rate to €187 per month. The increase for a Qualified Child will be improved by €3.80 per week from 1 January 2010. Early Childcare Supplement: Amount payable monthly per child under 5 years and 6 months: €83 per month from January 2009, €41.50 per month from May 2.

Annual after-tax income
Back to Main
2009 Budget 2010 Budget
Single person 1830 1830
Married couple 3660 3660
Widowed person (no dependent children) 2430 2430
Single parent (with dependent children) 3660 3660
Married couple - Home Carer tax credit 900 900
PAYE Credit 1830 1830
Blind person's tax credit (per person) 1830 1830
Dependent relative tax credit 80 80
Age tax credit - single 325 325
Age tax credit - married 650 650
Incapacitated child tax credit 3660 3660
Widowed parent with dependent child

first year after bereavement, reducing credit available for subsequent years

 5760 5760
Local authority waste charges

an upper limit of €400 per annum at the standard rate (previous year amount)

 80 80
Trade Union Subscriptions

maximum amount €350 at the standard rate applies for 2009

 70 70
Certain fees paid for third-level education

maximum relief €5,000 at the standard rate

 1,000 1,000
Certain fees paid for approved training courses

maximum relief €1,270 at the standard rate

 254 254
Rent relief for private accommodation - Single 55 or over 800 800
Rent relief for private accommodation - Married/widowed 55 or over 1,600 1,600
Rent relief for private accommodation - Single under 55 400 400
Rent relief for private accommodation - Married/widowed under 55 800 800
TOTAL
Back to Main
Company car
Original Cost Rate

Rate may vary where business mileage exceeds 15,000 p.a.

 Amount reimbursed to employer towards
running costs.		 2009 Budget 2010 Budget
X % -
X % -
Preferential Loans (Loans from an employer at specified rate)
Interest payable at specified rate Interest actually paid 2009 Budget 2010 Budget
@ 15%-
@ 15%-
Other
VHI/BUPA paid by employer
Club Subs paid by employer
Other Benefits provided by employer
TOTAL BENEFITS IN KIND
Preferential Home Loans
Interest payable at specified rate (5.5%) or ceiling (see table below) Less interest actually paid and relieved at source 2009 Budget 2010 Budget
-
Interest payable at specified rate (4.5%) or ceiling (see table below) Less interest actually paid and relieved at source
-
Mortgage interest payments

Mortgage interest payments: Tax relief on mortgage interest is granted at source. Relief will only be available for the first 7 years:

2009 Ceilings:
First-time Buyers Other to 30 April 2009
(€) (€)
Single 10,000 1,000
Married 20,000 2,000
Widowed 20,000 2,000

Back to Main
  2009 Budget 2010 Budget

2009 Budget: No liability for employees whose income was less than €352 per week; Ceiling €52,000
2010 Budget: No liability for employees whose income is less than €352 per week; Ceiling €75,036

FULL RATE EMPLOYED CONTRIBUTOR
(Lower of either annual employment income or ceiling for tax year) /
(annual employment income/52 or weekly salary) X 127		   Salary liable to PRSI @ 4.0%
-  
-  
REDUCED RATE EMPLOYED CONTRIBUTOR
(Lower of either annual employment income or ceiling for tax year) /
(annual employment income/52 or weekly salary) X 26		   Salary liable to PRSI @ 0.9%
-  
-  
SELF-EMPLOYED CONTRIBUTOR
Total Income @ 3% (min. payment € 253)
Back to Main
2009 Budget 2010 Budget
On all income where income exceeds €500 per week - up to €75,036 @ 4%
Excess over €75,036 @ 5%
On all income where income exceeds €500 per week - up to €75,036 @ 4%
Excess over €75,036 @ 5%
Back to Main

Assumptions

This Budget calculator is for indicative purposes only and cannot cater for every individual circumstance. For the purposes of this calculator the following assumptions have been made:

For the category of married couple with two earners, for the purposes of the calculation, the figures input should be the combined income of both spouses.

  1. The calculation will assume that both incomes are split evenly
  2. The results shown as the "net of tax position" is the combined disposable income
  3. For the category of married - home carer, that the carer spouse has no income
  4. Where a company car is provided it is assumed that the business mileage is less than 15,000 per annum
  5. That there are no tax credits available against investment income
  6. That income subject to DIRT has not been included
  7. That the annual salary is gross salary less pension contributions
  8. That the level of income is in excess of all of the age exemptions
  9. Widowed Lone Parent - does not include the additional credit due in the five years following bereavement
Back to Main
HELP! Back to Main