Income Tax (Leaving Cert Mathematics): Quizzes
📚Quizzes
Practise the questions
10 questions from this quiz
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Practise the questions
10 questions from this quiz
What is gross income?
What is gross income?
Total earnings before any deductions
What is net income?
What is net income?
Money taken home after all deductions
What type of contribution is PRSI in Ireland?
What type of contribution is PRSI in Ireland?
Mandatory contribution
What does PRSI fund?
What does PRSI fund?
Pensions, illness & unemployment benefits
Who contributes to PRSI?
Who contributes to PRSI?
Both employees and employers
How is the USC rate structured?
How is the USC rate structured?
Tiered with higher rates for higher income
What is the purpose of USC?
What is the purpose of USC?
Ensure everyone contributes to revenue
How do tax credits reduce the amount of tax owed?
How do tax credits reduce the amount of tax owed?
Subtracted directly from gross tax
What is gross income tax?
What is gross income tax?
Initial tax before credits & deductions
What is levied on gross income to ensure public revenue contribution?
What is levied on gross income to ensure public revenue contribution?
USC