Answering Questions (Leaving Cert Mathematics): Revision Notes

Paul has a gross salary of €52,000 per year. Calculate his gross income tax per year if the first €33,800 is taxed at 20% and the remainder is taxed at 40%.

First 33,800 taxed at 20% :

Difference taxed at 40% :

Gross income tax :

He is given tax credits worth $€3300$, find his net income tax.

Eimear earns a gross wage of $€40000$ per annum with her job. She pays income tax at a rate of $20 \%$ on income up to the standard rate cut-off point of $€35300$. She pays tax at a rate of $40 \%$ on the remainder. She has annual tax credits of $€1650$. Find how much income tax she pays per annum.

First €35300 taxed at 20% :

Difference taxed at 40% :

Gross income tax :

Tax credits :

net tax : $€7290$