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IE Tax 2024

42k Salary After Tax in Ireland 2024

This Ireland salary after tax example is based on a € 42,000.00 annual salary for the 2024 tax year in Ireland using the income tax rates published in the Ireland tax tables. The 42k salary example provides a breakdown of the amounts earned and illustrates the typical amounts paid each month, week, day and hour. This is particularly useful if you need to set aside part of your income in Ireland for overseas tax payments etc.

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Welcome to iCalculator™ IE (Ireland), this page provides a € 42,000.00 Income Tax Calculation for a tax resident of Ireland with example of income tax and payroll deductions. This 42k salary example uses a generic salary calculation example for an individual earning 42k per year based on the 2024 personal income tax rates and thresholds. The 42k salary example is great for employees who have standard payroll deductions and for a quick snapshot of the take home amount when browsing new job opportunities in Ireland, for those who want to compare salaries, have non-standard payroll deductions of simply wish to produce a bespoke tax calculation, we suggest you use the 2024 Salary Calculator for Ireland which includes payroll deductions for residents and non-residents, or access one of the income tax or payroll calculators from the menu or IE Tax main page.

42k Salary Snapshot

The graphic below illustrates common salary deductions in Ireland for a 42k Salary and the actual percentages deducted when factoring in personal allowances and tax thresholds for 2024. You can find the full details on how these figures are calculated for a 42k annual salary in 2024 below.

  • 11.07%€ 4,650.00
    Income Tax
  • 4.96%€ 2,084.66
    Social Security
  • 83.97%€ 35,265.34
    Net Pay
  • 109.97%€ 46,189.38
    Salary Package

Periodic Payroll Deductions Overview

The Periodic Payroll Deductions Overview table for this 42k salary after tax example in 2024 highlights the payroll deduction results for Ireland. This is a crucial resource for both employers and employees in Ireland. It is designed to provide a comprehensive breakdown of all the deductions that are taken out of an employee's gross salary, in accordance with Ireland tax laws and social contributions. This includes, but is not limited to, income tax, social security contributions, retirement fund contributions, and any other mandatory or voluntary payroll deductions in Ireland. iCalculator™ IE's aim is to provide a transparent and informative snapshot, enabling individuals to understand exactly how their net salary on € 42,000.00 is calculated in Ireland and where their money is going. For employers, it offers a systematic way to calculate deductions and the true cost of employment for a € 42,000.00 salary, ensuring compliance with employment, legal and obligations in Ireland.

Ireland € 42,000.00 Income Tax Calculations for 2024
YearlyMonthly4 Weekly2 WeeklyWeeklyDailyHourly%1
Personal exemption1,875.00156.25144.2372.1236.067.411.034.46%
Pay Related Social Insurance947.8478.9972.9136.4618.233.750.522.26%
Universal Social Charge1,136.8294.7387.4543.7221.864.490.622.71%
Total Social Security Contributions2,084.66173.72160.3680.1840.
Taxable Income42,000.003,500.003,230.771,615.38807.69166.0123.08100.00%
Income Tax Due4,650.00387.50357.69178.8589.4218.382.5511.07%
Total Deductions6,734.66561.22518.05259.03129.5126.623.7016.03%
Salary After Tax35,265.342,938.782,712.721,356.36678.18139.3919.3883.97%
Employer PRSI4,189.38349.12322.26161.1380.5716.562.309.97%
Cost of Employee46,189.383,849.123,553.031,776.51888.26182.5725.38109.97%

Income Tax Calculation in 2024

The table below provides the calculations for Personal Income Tax (PI) deductions on a € 42,000.00 in 2024. Note that this PIT calculation is based on the annual taxable income.

Ireland: Resident Income Tax Calculation 2024
+€ 0.00 - € 42,000.0020%€ 8,400.00

=Total Income Tax Due€ 8,400.00
Ireland: Taxable Income Calculation 2024
€ 8,400.00Total Income Tax Due in 2024
-€ 1,875.00Ireland Resident Persons Tax Credit in 2024

-€ 1,875.00Ireland Resident Employee Tax Credit in 2024

=€ 4,650.00Total Income Tax Payable in 2024

Annual Taxable Income Considerations

Annual taxable income is a key term in personal finance and taxation that refers to the amount of money an individual earns in 2024 that is subject to taxation in Ireland. This is not to be confused with gross income, which is the total money earned before any deductions. Annual taxable income is calculated by taking the gross income and subtracting allowable deductions in line with Ireland tax law, such as certain expenses, allowances, and exemptions as defined by Ireland tax regulations. Note that not all allowances are applied in the € 42,000.00 salary example, please use the dedicated salary and tax calculators we provide for a tailored result.

Ireland: Taxable Income Calculation 2024
€ 42,000.00Annual Income in 2024
=€ 42,000.00Your Taxable Income in 2024

Employee Social Security Calculation

The table below provides example of employee social security deductions applied to a € 42,000.00 Salary in Ireland in 2024.

Ireland: Employee Social Security Contributions Calculation 2024
€ 947.84Ireland Employees Pay Related Social Insurance (PRSI) Contributions in 2024
€ 1,136.82Ireland Employees Universal Social Charge (USC) Contributions in 2024

=€ 2,084.66Ireland Employees Social Security Contributions on € 42,000.00 in 2024
Ireland: Pay Related Social Insurance (PRSI) Contributions Calculation 2024
€ 42,000.00Salary in 2024
-€ 18,304.00PRSI Employee Lower Earning Threshold in 2024
-€ 0.00PRSI Tax Credit in 2024

Amount Subject to PRSI in 2024
=€ 23,696.00Amount Subject to PRSI in 2024
x4%Ireland Employee PRSI Contribution Rate in 2024

=€ 947.84Ireland Employees PRSI Contributions on in 2024

Your PRSI tax credit has been reduced to zero as you earn over € 22,048.00 per annum.

Ireland: Resident Universal Social Charge (USC) Calculation 2024
€ 0.00 - € 12,012.000.5%€ 60.06
+€ 12,012.01 - € 22,920.002%€ 218.16
+€ 22,920.01 - € 42,000.004.5%€ 858.60

=Total Universal Social Charge (USC) Due€ 1,136.82

Note that the standard USC earnings allowance of € 13,000.00 per annum was factored into this calculation.

This completes the overview of employee deductions, we will now turn our focus to employer payroll deduction and employment cost calculations for this € 42,000.00 Salary in Ireland in 2024.

Total Cost of Employee Calculation

The total cost of an employee in Ireland earning an annual salary of € 42,000.00 in 2024 is an important figure for employers in Ireland as it permits staff costing planning and analysis, this can be particularly useful when planning recruitment and setup costs for hiring a new employee in Ireland in 2024.

Ireland Annual Cost of Employee Earning € 42,000.00 Salary per Annum Calculation
€ 42,000.00Annual Salary in 2024
+€ 4,189.38Ireland Employers PRSI Contributions on € 42,000.00 in 2024

=€ 46,189.38Total Payroll cost of Employee in 2024

Employer Social Security Calculation

The information below illustrates the employer social security deductions applied to a € 42,000.00 Salary in Ireland in 2024.

Ireland: Employer Pay Related Social Insurance (PRSI) Contributions Calculation 2024
€ 1,766.34Ireland Employers PRSI Lower Rate Contributions on € 42,000.00 in 2024
+€ 2,423.04Ireland Employers PRSI Higher Rate Contributions on € 42,000.00 in 2024

=€ 4,189.38Ireland Employers Pay Related Social Insurance (PRSI) Contributions on € 42,000.00 in 2024
Ireland: Employer Pay Related Social Insurance (PRSI) Contributions at lower rate Calculation 2024
€ 20,072.00Earning subject to Employer PRSI at lower rate in 2024
x8.8%Ireland Employers Class A PRSI Lower Contribution Rate in 2024

=€ 1,766.34Ireland Employers PRSI Lower Rate Contributions on € 42,000.00 in 2024
Ireland: Employer Pay Related Social Insurance (PRSI) Contributions at higher rate Calculation 2024
€ 21,928.00Earning subject to Employer PRSI at higher rate in 2024
x11.05%Ireland Employers Class A PRSI Higher Contribution Rate in 2024

=€ 2,423.04Ireland Employers PRSI Higher Rate Contributions on € 42,000.00 in 2024

How to calculate income tax in Ireland on a € 42,000.00 Salary

Income tax in Ireland is calculated using 2024 income tax rates and thresholds, these are different for resident taxpayers and non-resident taxpayers. In this Salary Example we use the resident tax tables to produce the Ireland salary example, you can calculate non-resident salary examples on the Ireland Tax Calculator.

About this tax calculation

We used the following information from the Ireland Tax Calculator for the 2024 tax years to work out your salary after tax on this € 42,000.00 salary example. We made estimates for the amount of expenses incurred for education and medical expenses and also the amount you give to charity. These assumptions are for the salary illustration only, you can edit these and produce your own specific salary example using the Ireland Salary After Tax Calculator

Note: The 2024 Ireland Tax Calculator tool is provided for your use, if you spot a bug, a mistake in the tax rates, thresholds or calculations OR you would like additional tax considerations added to the Ireland Salary Calculator, please contact us. We will make alterations as a priority to ensure this salary example supports our users who live and work in Ireland or are relocating to Ireland in 2024 (whether you have resident tax status in Ireland or an expat in Ireland).

If you are an expat living and working in a different country, you can choose an alternate salary calculator to calculate your salary after tax, iCalculator™ IE provides salary calculators for most countries around the globe and has world tax calculators that allow you to run tax comparisons by country.

Similar Salary Examples in the 42k earning range

You may also find the following salary examples for Ireland useful as they were viewed by others who viewed the € 42,000.00 salary example.:

Note: This salary example is for a resident of Ireland, if you are a non-resident, you can produce a salary example using the 2024 Ireland Salary Calculator