AITI Chartered Tax Adviser

What is reckonable income?

A self-employed contributors reckonable income is his aggregate income (i.e., income from all sources) for income tax purposes less capital allowances. Reckonable income also includes income which may be exempt from income tax, for example, artistic income, below €50,000 per annum. The rule which allows a married couple to be taxed as a unit for income tax purposes does not apply for PRSI purposes.