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Budget 2025 - Income Tax Calculator

Due to the complexity of Income Tax rules it has been necessary to make some simplifications for the purposes of the Tax Calculator.

Tax Calculator Notes

  1. Single/Married Option: Use the Single Person option if you are married but separately assessed.
  2. The Employee PRSI rate increases by 0.1% from 1 October 2024 (4.0% rate increases to 4.1% from 1 October 2024 and to 4.2% from 1 October 2025). The Tax Calculator applies composite PRSI rates of 4.125% for 2025 and 4.025% for 2024 on Total Income.
  3. If you are an employee, the calculator assumes that you are an employed contributor for PRSI purposes (Class A). If you have Other Income, the Tax Calculator assumes that you are liable to PRSI at 4.125% for 2025 and 4.025% for 2024 on that income.
  4. For self-employed individuals, the Tax Calculator applies the additional 3% USC charge (11% total USC rate) to income in excess of €100,000. The Tax Calculator includes the earned income tax credit for self-employed individuals.  If you have Other Income, the Tax Calculator assumes that you are liable to PRSI at 4.125% for 2025 and 4.025% for 2024 on that income.
  5. Dependent Children/Child:
    1. Home Carer Tax Credit – A dependent child is:
      A child for whom Social Welfare Child Benefit is payable – this includes all children under 16 and children in full-time education under 19.
    2. Single Parent Child Carer Credit – A dependent child is:
      A child who is under 18 years of age at the start of the tax year, or if 18 or older, is in full-time education.
  6. Deposit interest is not included in the Tax Calculator, as DIRT deducted at source meets the income tax liability.  Deposit Interest subject to DIRT is exempt from USC.  There may be a liability to PRSI on gross deposit interest depending on personal facts and circumstances.
  7. Pension Contributions: Restrictions on the maximum allowable pension contribution apply dependant on age and earnings. Restrictions have been applied in the Tax Calculator. The Tax Calculator reduces NET Take Home Pay by pension contributions on the assumption the contributions are made out of Gross/Other income.
  8. Home Carer Tax Credit: The full tax credit of €1,950 for 2025 and €1,800 for 2024 is given in the Tax Calculator if the home carer's income is less than or equal to €7,200 for 2025 and 2024.

    If the home carer's income is greater than €7,200 for 2025 and 2024, the standard rate band is increased by the home carer's income and the home carer tax credit is not given.
  9. A Rent Tax Credit for renters in the private rented sector is available for those who are not in receipt of any other State housing support. A Rent Tax Credit of €1,000 is available for 2025 and €1,000 for 2024.

    From 2024, the Rent Tax Credit will also be available for parents who pay for their student children who have tenancies in ‘Rent a Room’ or ‘digs’ accommodation. Only one credit may be claimed per person per year, however the value of the credit will be doubled in the case of married couples and civil partners. The Tax Calculator does not provide automatically for the Rent Tax Credit, however, please refer to ‘Do you have any other income or tax credits?’ section on the Tax Calculator to include the Rent Tax Credit, where applicable.
  10. An Incapacitated Child Tax Credit of €3,800 for 2025 and €3,500 for 2024 is available to a parent or guardian of a child who is permanently incapacitated, either physically or mentally, and where there is a reasonable expectation that the child will be unable to maintain themselves when over 18 years of age.

    If you have more than one child who is permanently incapacitated, you may claim a credit for each child. If a child is maintained by more than one person, the tax credit is divided between them. The Tax Calculator does not provide for this tax credit.
  11. Medical Expenses Tax Credit is available for actual expenses incurred by the individual. You cannot claim this credit for expenses for which you have been reimbursed e.g. under a health insurance policy. The credit is given at 20% of the amount paid for qualifying expenses. Please refer to Health expenses (revenue.ie) for the full list of qualifying expenses.
  12. If you are blind, or have impaired vision, you can claim the Blind Person's Tax Credit of €1,950 for 2025 and €1,650 for 2024. A certificate from an eye specialist must be submitted to Revenue to claim this tax credit.

The information provided to this calculator is not used by EY for any purpose other than to calculate an estimate of your tax liability in accordance with the information given. It is not tracked, recorded, stored, reproduced or used by EY for any purpose.

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