Bobby and Mary are retired, in their Seventies and living in Galway. Bobby has an occupational pension of €27,000 and receives dividends of €8,000 per annum. Mary is in receipt of an occupational pension of €9,000 per annum.

Bobby and Mary are thinking of visiting their daughter in Australia, and Bobby may sell some of his shares to fund this trip. They hope that the Capital Gains Tax rate will remain at 20 per cent. They would also like to see an increase in the old age pension rates and hope that the Minister will continue the recent trend regarding an annual increase.

They hope that the standard rate bands are increased so that they only pay tax at the lower rate.

Monthly Summary

Gross Salary €5,026
Taxable income €5,026
Income Tax €605
PRSI/Levy €0
Net Cash €4,422
Deductions (as % of gross salary) 12.03
Child benefit €0