Personal Tax Liability (Junior Cert Business Studies): Quizzes
📚Quizzes
Practise the questions
12 questions from this quiz
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Practise the questions
12 questions from this quiz
What type of tax system does PAYE use in Ireland?
What type of tax system does PAYE use in Ireland?
Progressive tax rates
What is the PAYE tax rate on income up to €42,000 per year?
What is the PAYE tax rate on income up to €42,000 per year?
20%
What is the PAYE tax rate on income above €42,000 per year?
What is the PAYE tax rate on income above €42,000 per year?
40%
How do tax credits reduce your tax bill?
How do tax credits reduce your tax bill?
Euro-for-euro reductions
What formula calculates tax payable after credits?
What formula calculates tax payable after credits?
PAYE - Tax credits
What is the typical PRSI rate for most employees?
What is the typical PRSI rate for most employees?
4%
Which benefit does PRSI help to fund?
Which benefit does PRSI help to fund?
State pension
Can PRSI be reduced by tax credits?
Can PRSI be reduced by tax credits?
No, it cannot
Can USC be reduced by tax credits?
Can USC be reduced by tax credits?
No, it cannot
If gross pay is €55,000 and total deductions are €12,775, what is net pay?
If gross pay is €55,000 and total deductions are €12,775, what is net pay?
€42,225
How do you calculate monthly pay from annual pay?
How do you calculate monthly pay from annual pay?
Divide by 12
Which tool allows taxpayers to complete tax returns online with real-time validation?
Which tool allows taxpayers to complete tax returns online with real-time validation?
Revenue Online Services (ROS)