Tables with salary and tax deductions for single and married employees for 2016.
Most small businesses might be asking, if they can afford to employ somebody. Basically if you pay employee minimum wage of €9.15 per hour, it will actually cost you €10 per hour and employee will work only around 90% of time; 10% of time is entitlement to annual leave and public holiday.
Personal tax credits table for years from 2012 to 2016.
Employers can give their employees non-cash gift of up to €500 tax free from 22. October 2015. The benefit is usually in form of a voucher or gift card and there is no income tax, pay related social insurance (PRSI), universal social charge or benefit-in-kind tax for employee.
However, the benefit cannot go over €500 in value for a year, must not be in the form of cash, and the gift cannot be exchanged for cash, in part or in full.
Revenue will issue P2Cs to all employers during December 2015. P2C is information about tax credits, cut off points and thresholds for employees which will be applicable from 1 January 2016.
Employers should try to hold back running January payrolls until they receive the 2016 P2Cs.