About the Salary Calculator
Some information about the January 2025 budget figures used to generate the answers displayed in The Salary Calculator:
Income Tax
| Tax Rates | |
|---|---|
| Single | |
| €0 - €44,000 | 20% |
| over €44,000 | 40% |
| Married single income | |
| €0 - €53,000 | 20% |
| over €53,000 | 40% |
| Married two incomes | |
| €0 - €88,000 | 20% |
| over €88,000 | 40% |
| One parent family | |
| €0 - €48,000 | 20% |
| over €48,000 | 40% |
| Tax Credits | |
| Single | €2,000 |
| Married single income | €4,000 |
| Married two incomes | €2,000 |
| One parent family | €3,900 |
| PAYE Credit | €2,000 |
The Salary Calculator uses Income tax information from January 2025 to calculate the deductions made on a salary. There are 2 tax rates of 20% and 40%. The thresholds between the tax rates depend on your filing status.
For the single status, the cut-off between 20% and 40% is at €44,000. For the married single income status, the cut-off between 20% and 40% is at €53,000. For the married two incomes status, the cut-off between 20% and 40% is at €88,000. For the one parent family status, the cut-off between 20% and 40% is at €48,000.
Tax Credits
Once your gross income tax has been worked out, it is reduced by the value of your tax credit. There are standard tax credits for each filing status. For the single status, the standard credit is €2,000. For the married single income status, the standard credit is €4,000. For the married two incomes status, the standard credit is €2,000. For the one parent family status, the standard credit is €3,900.
As well as the standard personal tax credit, there is also a PAYE (Pay As You Earn) tax credit of €2,000 for those who have their tax deductions done automatically by their employer.
Tax Allowance
The Salary Calculator also allows you to enter a tax allowance, if you have one. This allowance is deducted from your gross income before the tax is worked out, reducing your taxable income. This means that your tax bill is reduced at what is called the marginal rate - i.e. the top rate at which you personally pay tax. If your earnings mean that your highest rate of tax is 40%, a tax allowance of €1,000 would lower your tax bill by €400.
Universal Social Charge
| Standard Rates | |
|---|---|
| €0 - €12,012 | 0.5% |
| €12,013 - €27,382 | 2% |
| €27,383 - €70,044 | 3% |
| over €70,044 | 8% |
| Reduced Rates | |
| €0 - €12,012 | 0.5% |
| over €12,012 | 2% |
| Lower income limit | €13,000 |
| Reduced rate threshold | €60,000 |
Universal Social Charge, or USC, is calculated based on your gross income. If your income is under €13,000, you don't pay any USC. If your income is over this threshold, you pay USC on all your income.
From €0 to €12,012, you pay 0.5% of your income. Between €12,013 and €27,382, you pay 2%. Between €27,383 and €70,044, you pay 3%. On income over €70,044, you pay 8%.
If you are over 70 years old (or turn 70 during the tax year), or hold a full medical card, you may be eligible for reduced USC payments. If your income is above the threshold of €60,000, you pay the normal USC - but if your income is below this amount you will not have to pay at the higher rate of 8%. Instead, you will be charged the lower rates as follows:
From €0 to €12,012, you would pay 0.5% of your income. On income over €12,012, you would pay 2%.
Pay-Related Social Insurance
| PRSI Threshold | €18,304 |
| All income | 4.1% |
Pay-Related Social Insurance (PRSI) is only charged if you are under 66 years old and if your gross income is over the threshold of €18,304. If you earn over this threshold, you are charged 4.1% on all of your income.
If you earn less than €22,048 you receive a credit which reduces your PRSI payment. The maximum credit is €624 but this is reduced by one sixth of your income over €18,304 until it reaches zero at €22,048.
Pension Contributions
| Age | Max % |
|---|---|
| Under 30 | 15% |
| 30-39 | 20% |
| 40-49 | 25% |
| 50-54 | 30% |
| 55-59 | 35% |
| Over 60 | 40% |
The Salary Calculator lets you enter a percentage of your salary to deduct as a pension. Pension contributions are calculated by deducting the percentage rate you enter into the "Pension" field from your standard salary (not including overtime). This is an estimate - each employer calculates "pensionable pay" differently and so it may not exactly match The Salary Calculator.
Pension contributions are deducted from your income before working out your tax - thus reducing your taxable pay. However, pension contributions are still eligible for USC and PRSI payments, so these are not reduced if you contribute to a pension.
There is an annual limit you can pay into a pension scheme and still get these tax benefits. If you pay more into your pension than this limit, you may be liable for additional tax. This limit is calculated according to your age, and is a percentage of either your total earnings or the earnings limit, currently €115,000, whichever is the lower. The percentage used is listed in the table to the right.
Mortgage Calculations
The Mortgage Repayment Calculator makes some assumptions (such that interest is calculated monthly) to calculate a repayment amount that completes the mortgage after the entered time period has passed. It also does not include any information about building society fees, or variable rates.
For these reasons, The Mortgage Repayment Calculator is intended just to provide a ballpark figure to allow you to get an idea of the costs of different interest rates etc. Care has been taken to try to make these values accurate, but figures from mortgage lendors are likely to differ.
