1) Single Worker – Earning Average Irish Industrial Wage
2) Married Worker, 2 Children – Earning 3 x Average Irish Industrial Wage
3) Married Worker, 2 Children – Earning €150,000
Assumptions
- Income examples based on
- average Irish industrial wage or equivalent (single person), plus 5% for the Irish post-Budget calculation
- 3X average Irish industrial wage or equivalent (married couple), plus 5% for the Irish post-Budget calculation
- €150,000 or equivalent
- The net income % is calculated net of income tax and social security for the current tax year after granting basic personal allowances/credits as appropriate. The post budget net income for Ireland will take effect from 1 January 2008 (subject to any timing differences re payment of Child Benefit).
- US and Canadian figures are net of Federal Taxes and New Jersey State tax (USA) and Ontario Provincial tax (Canada).
- Any other applicable state or local taxes (such as city tax, property tax, etc) are excluded from the calculations.
- The % net income figures for the married couple with 2 children includes the value of the amounts which the couple receive from the State in Child Benefit income (in those countries where CB payments are made)
- The comparatives are based on average exchange rates prevailing early December 2007.
- No adjustment has been to reflect cost of living differentials.
Note: these figures are for illustrative purposes only and have been prepared using RESOURCE™. They are intended as a general guide and should not be used as a basis for decisions or as a substitute for professional advice. For that purpose advice should be obtained which takes account of all the individual’s or organisation’s circumstances. Every effort has been made to ensure the accuracy of information contained above. In view of its purpose the reader will appreciate that we are unable to accept liability for any errors or omissions which may arise.
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