Tax Calculation

Pay for tax purposes is gross pay less the following:
  • Pension
  • Pension Levy
  • Travel Pass
  • Bike To Work

Example:  Staff member on €5000 per month with pension of €250 per month PRD of €260.41 and Travel Pass of €100 with a standard tax credit of € 3300 and standard rate cut off of €33800

Gross pay for tax is €5000 - €250 – 260.41-€100 =€4389.59

Standard Rate Cut Off and Tax Credits are divided by 12 for monthly and 52 for weekly staff.

Year Tax Credit of €3300 / 12 = 275 monthly tax credit

Year Tax Credit of €3300 / 52 = 63.46 weekly tax credit

Yearly Standard Rate Cut Off of €33800 / 12 = €2816.66 monthly @ 20% tax

Yearly Standard Rate Cut Off of €33800 / 52 = €650.00 weekly @ 20% tax

Calculation as follows:

Gross Pay for Tax = €4389.59
2816.66 x 20%     = €563.33
1572.93 x 40%     = €629.17
Tax due                 = €1192.50
Less Tax Credit        €275.00
Tax payable:             €917.50

USC Calculation

Gross Pay for USC purposes is Gross pay less the following:

  • Travel Pass
  • Bike to Work

Gross pay for USC €5000 – €100 (travel pass) = €4900

USC Thresholds 2017

Weekly Threshold

Monthly Threshold

Annual Threshold

USC %

231

1001

12012

0.5

361

1564.33

18772

2.5

1347

5837

70044

5

9999999.99

9999999.99

9999999.99

8

USC is calculated as follows:

1001 @ .50% =   €5.00
563.33@ 2.5% = €14.08
3335.67 @ 5% = €166.78
Total USC payable = €185.86

Pension Related Deduction (PRD) Calculation

Gross pay for PRD is gross pay less the following:

  • Travel Pass
  • Bike To Work

Gross pay for PRD €5000 – €100 (travel pass) = €4900 gross pay for PRD

PRD Thresholds are as follows

Weekly Threshold

Monthly Threshold

Percentage

552.88

2395.83

0

1153.85

5000

10

9999999.99

9999999.99

10.5

PRD is calculated as follows:

€2395.83 x 0% = 0
€2504.17 x 10% = €250.41
Total PRD due €250.41

PRSI Calculation

Gross Pay for PRSI is less the following:

  • Travel Pass
  • Bike to Work
  • Disability/Illness Benefit

PRSI is calculated as follows:

A1 Staff Post 1995 started in college- Gross pay for PRSI €4900

PRSI is calculated at 4% of gross salary for staff on A1 class for PRSI which applies to the majority of staff employed after 1995.
Calculation: €4900 x4% = €196.00
Social Welfare Payments are exempt from PRSI.

D1 Staff (Pre 1995, monthly paid staff) – Gross for PRSI is €4900

Pre 1995 staff Class D1 €1443.00 per week @ .90% remainder at 4%
Calculation:
1443.00 x .90% = €12.98
3457.00 x 4% = €138.28
Total PRSI Due = €151.26
Social Welfare Payments are exempt for PRSI.