Income Tax Classification of Income for Tax Purposes Schedular System: Schedule D Case I – Income from a Trade Schedule D Case II – Income from a Profession Schedule D Case III – Investment Income not subject to tax at source, foreign income, credit union ordinary accounts

Income Tax Classification of Income for Tax Purposes Schedular System (continued): Schedule D Case IV – Irish deposit interest subject to DIRT, Credit union special share accounts, covenant income, miscellaneous income Schedule D Case V – Irish Rental Income Schedule E – Employment Income Schedule F – Irish Dividend Income

Income Tax Classification of Income for Tax Purposes Schedular System (continued): Schedule D Case IV – Irish deposit interest subject to DIRT, Credit union special share accounts, covenant income, miscellaneous income Schedule D Case V – Irish Rental Income Schedule E – Employment Income Schedule F – Irish Dividend Income

Income Tax Income Tax Pro Forma Computation (Taxpayer Name) Income Tax Computation for the year ended 31st December 2015 € Income xxx Less Reliefs/Allowances (xxx) Taxable Income xxx Taxed as follows: €xxx@20% xxx €xxx@40% xxx xxx Less Non-Refundable Credits (xxx) Less Refundable Credits (xxx) Income Tax Liability/(Overpayment) xx(xx)

Income Tax Main sections of the Pro Forma Computation Income Reliefs and Allowances Calculation of Tax Non-Refundable Credits Refundable Credits

Income Tax Example John O’Shea, 28, single Salary €21,000 PAYE deducted €1,000 Non-Refundable Tax Credits €3,300 Tax Reliefs €1,000 Calculate John’s income tax liability or overpayment