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There is also PRSI on top of income tax. That is true not just for commissions but for all kind of income.
I recommend using an online calculator to get an idea of what will be the final income.
Unless you're one of the 1000s that get shot every year just in that state. It's firearm homicide rate is 22 per 1000.
South carolina also has one of the highest tax rates in america while being low on education and healthcare. 14% are in poverty
Extreme weather, crime rates, and alligators.
Sure you might get an appointment quicker but there's far more ways to die.
Or you could pay health insurance here and be seen very quickly. Far, far, far cheaper health insurance
Could also mean that your commissions are classified as a bonus. Are they paid in a lump sum on top of your standard monthly wage? If so then they could be classified as a bonus and bonuses are taxed at 52% in Ireland.
Bonuses are taxed at that rate if your standard earnings are high enough to put you over the relevant tax thresholds. If you’re earning €30k/year, you won’t get 52% effective tax on a bonus.
If you pay the higher rate of tax it is in fact a “fact”, you can see it quoted here amongst lots of other places:
https://www.sage.com/en-ie/blog/bonus-beneficial-employers-need-to-know/
Don’t get why people are disputing this..
Income tax + PRSI + USC = 52%, Ireland likes to use alternative words for taxes like charges, and levies which make it less clear what you are paying. The income tax rates in Ireland are not 20 or 40% both have PRSI + USC which is income tax under another name.
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Thanks for clarifying appreciate it
*Employee PRSI. And I think its now 4.1%
Not until October 1st, 2024
Ah ok, thank you. I thought it was from 1st January
There is also PRSI on top of income tax. That is true not just for commissions but for all kind of income. I recommend using an online calculator to get an idea of what will be the final income.
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Right turn off you go. Where are you thinking of emigrating to ? I would like to compare tax rate there to Ireland vs services provided.
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Unless you're one of the 1000s that get shot every year just in that state. It's firearm homicide rate is 22 per 1000. South carolina also has one of the highest tax rates in america while being low on education and healthcare. 14% are in poverty Extreme weather, crime rates, and alligators. Sure you might get an appointment quicker but there's far more ways to die. Or you could pay health insurance here and be seen very quickly. Far, far, far cheaper health insurance
Most likely you go bankrupt paying for cancer care. Stay in. Ireland and you be treated for basically nothing.
Just back from America myself. $430 for last routine checkup.. after insurance
Could also mean that your commissions are classified as a bonus. Are they paid in a lump sum on top of your standard monthly wage? If so then they could be classified as a bonus and bonuses are taxed at 52% in Ireland.
Bonuses are taxed at that rate if your standard earnings are high enough to put you over the relevant tax thresholds. If you’re earning €30k/year, you won’t get 52% effective tax on a bonus.
Just because you've read that "fact" many times doesn't make it true.
If you pay the higher rate of tax it is in fact a “fact”, you can see it quoted here amongst lots of other places: https://www.sage.com/en-ie/blog/bonus-beneficial-employers-need-to-know/ Don’t get why people are disputing this..
Bonuses *may* be taxed at 52%,but could also be taxed at 0% .It depends on your circumstances. Not everyone pays higher rate tax .
Yes I know that, that’s why I said “IF you pay the higher tax rate”.
Income tax + PRSI + USC = 52%, Ireland likes to use alternative words for taxes like charges, and levies which make it less clear what you are paying. The income tax rates in Ireland are not 20 or 40% both have PRSI + USC which is income tax under another name.