We also have national insurance and a tax free allowance, so the effective rate for someone at say £54k (about €62k) would be about 25% https://www.moneysavingexpert.com/tax-calculator/
I think I’ve worked that out right.
In Ireland it’s about 48% on everything above €40k, then 52% above €70k.
That by itself could be misleading though, the overall effective tax rate for someone on €40k is 18%, around 30% at €70k. The thresholds will rise next year.
Interesting- compared to my country Germany where you have to pay 42% for everything you earn above (!) 62.810 €
Guess Germany hates its middle class even more than the UK…
We also have national insurance and a tax free allowance, so the effective rate for someone at say £54k (about €62k) would be about 25% https://www.moneysavingexpert.com/tax-calculator/ I think I’ve worked that out right.
In Ireland it’s about 48% on everything above €40k, then 52% above €70k.
That by itself could be misleading though, the overall effective tax rate for someone on €40k is 18%, around 30% at €70k. The thresholds will rise next year.
What is the break down of this? Is it the higher USC band? I’m not familiar with a 52% tax rate.
Yeah after about €70k there is a higher rate of USC. The 52% includes PAYE, PRSI and USC at the highest bands for a regular employee.