Calculating PAYE (Leaving Cert Business): Quizzes
📚Quizzes
Practise the questions
10 questions from this quiz
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Practise the questions
10 questions from this quiz
What does PAYE stand for in the Irish tax system?
What does PAYE stand for in the Irish tax system?
Pay As You Earn
PAYE is calculated on which type of income?
PAYE is calculated on which type of income?
Taxable pay
What is the standard rate of tax in Ireland's two-tier PAYE system?
What is the standard rate of tax in Ireland's two-tier PAYE system?
20%
What is the higher rate of tax applied to income above the threshold?
What is the higher rate of tax applied to income above the threshold?
40%
What is the 2020 tax band threshold for a single person without children?
What is the 2020 tax band threshold for a single person without children?
€35,300
How do tax credits affect your tax calculation?
How do tax credits affect your tax calculation?
Reduce tax owed
Which two tax credits are available to all PAYE workers?
Which two tax credits are available to all PAYE workers?
Personal & Employee
At what age can someone claim the Age Tax Credit?
At what age can someone claim the Age Tax Credit?
65 or older
Which feature describes PAYE's approach where higher earners pay more tax?
Which feature describes PAYE's approach where higher earners pay more tax?
Progressive nature
What is the value of the Employee Tax Credit used in the examples?
What is the value of the Employee Tax Credit used in the examples?
€1,650