Know Your Rights: Income tax bands and rates
January 2015
Question What are the income tax bands and tax rates for 2015?
Answer
The income tax bands and tax rates for 2015 were announced in Budget 2015.
Nearly all income is liable to tax. The amount of tax that you have to pay depends on your personal circumstances. There is a range of income tax reliefs available that can reduce the amount of tax that you have to pay.
Tax is charged as a percentage of your income. The percentage that you pay depends on the amount of your income.
The first part of your income, up to a certain amount, is taxed at what is known as the standard rate of tax. The amount that it applies to is known as the standard-rate tax band. The remainder of your income is taxed at a higher rate of tax.
For 2015 the standard rate of tax remains at 20% but the standard-rate tax bands have been increased as follows:
2014 2015
Single person €32,800 €33,800
Married couple/civil
partners, one income €41,800 €42,800
Married couple/civil
partners, two incomes €41,800 (1st income) €23,800 (2nd income) €42,800 (1st income) €24,800 (2nd income)
One parent family €36,800 €37,800
The higher rate of tax that applies to the balance of your income has been reduced from 41% in 2014 to 40% for 2015.
Further information is available from the Citizens Information Centre below.
Know Your Rights has been compiled by Dungloe Citizens Information Service which provides a free and confidential service to the public. Tel: 0761075431 Address: Dungloe Public Services Centre,
Information is also available online at citizensinformation.ie and from the Citizens Information Phone Service, 0761 07 4000.