Quiz on Income Tax

What is the money you earn before any deductions are made from your income?

• Tax payable

• Tax credit

• Gross pay

• Net pay

What is the percentage tax rate that is applied to all income up to the standard rate cut-off point?

• Tax payable

• Tax credit

• Gross tax

• Standard rate of tax

What is the portion of your gross pay due to the revenue commissioners before tax credits are deducted/applied?

• Universal Social Charge (USC)

• Tax payable

• Tax credit

• Gross tax

What is the money that is deducted from your gross tax bill?

• Tax payable

• Deductions

• Tax credit

• Net pay

What is the actual tax that will finally be paid, calculated as Gross tax minus your tax credit?

• Tax credit

• Net pay

• Gross tax

• Tax payable

What is the percentage charge calculated on your gross income?

• Tax credit

• Tax payable

• Pay-Related Social Insurance (PRSI)

• Universal Social Charge (USC)

What is normally payable by both the employer and the employee, calculated as a percentage of the employee's gross income?

• Tax credit

• Pay-Related Social Insurance (PRSI)

• Universal Social Charge (USC)

• Tax payable

For PAYE workers, all income above the standard rate cut-off point is taxed at which rate?

• Standard rate of tax

• Universal Social Charge (USC)

• Gross tax

• Tax credit

What covers any other monies that are paid out of a person's income, such as health insurance, pension, and loans?

• Deductions

• Net pay

• Tax payable

• Gross pay

What is the amount of income you earn after all deductions have been made?

• Tax payable

• Gross pay

• Net pay

• Tax credit