Few things about your paycheck matter more than knowing exactly how much tax gets taken out every fortnight. Whether you’re on the Irish PAYE system or navigating Australian withholding rules, the 2024 fortnightly tax tables from Revenue and the ATO are your official playbook. This article breaks down the rates, credits, and step-by-step calculations so you can see exactly where your money goes.
Tax-free threshold (Ireland): €4,000 per month ·
First cut-off (20%): €42,000 (single) ·
Higher rate (40%): above €42,000 ·
PAYE tax credit: €1,875 ·
ATO table effective: 1 July 2024
Quick snapshot
- Ireland single standard rate cut-off: €42,000 per year (Revenue.ie — Irish tax authority)
- ATO fortnightly tax table effective 1 July 2024 (ATO — Australian Taxation Office)
- Standard PAYE tax credit: €1,875 annually (Cornmarket — Irish financial guidance)
- Exact tax credits for specific personal circumstances (age, health expenses)
- Future legislative changes after publication date
- Budget 2024 raised the single standard rate band from €40,000 to €42,000 (TaxCalc.ie — Irish tax analysis)
- Check Revenue.ie and ATO.gov.au for mid-year policy updates
Six figures define the 2024 fortnightly tax landscape:
| Parameter | Value |
|---|---|
| Ireland single tax cut-off point for 20% rate (FY 2024) | €42,000 per year |
| Ireland single higher rate threshold (FY 2024) | €42,000 |
| Australia tax-free threshold (FY 2024-25) | $18,200 per year |
| Australia lowest tax bracket rate (FY 2024-25) | 19% for income $18,201–$45,000 |
| Standard PAYE tax credit (Ireland FY 2024) | €1,875 |
| Personal tax credit (Ireland FY 2024) | €1,875 |
What are the new tax rates for 2024?
2024 tax brackets for single individuals (Ireland)
- 20% on income up to €42,000
- 40% on income above €42,000
Source: Revenue.ie — Irish tax authority
2024 tax brackets for married couples (Ireland)
- One earner: standard rate cut-off €51,000
- Two earners: combined cut-off up to €84,000
Source: TaxCalc.ie — analysis of Budget 2024 changes
2024 tax rates for Australia (fortnightly)
- 0% up to $18,200 annually
- 19% from $18,201 to $45,000
- 30% from $45,001 to $120,000
- 37% from $120,001 to $180,000
- 45% above $180,000
Source: ATO — Australian Taxation Office
Bottom line: The difference between the Irish 20% bracket and the Australian 0–19% structure means a single earner on €42,000 in Ireland faces a marginal rate of 40% above that point, while an Australian earner on the same amount in AUD stays in the 19% band. For cross-border workers, this gap is the single biggest factor in net pay.
The 2024 Irish budget deliberately widened the standard rate band by €2,000, but the 40% threshold remains the lowest among comparable English-speaking countries. Australian earners get a much longer tail before hitting top rates.
How much can I earn before I pay 40% tax in Ireland?
Understanding tax credits and cut-off points
For a single person in Ireland FY 2024, the 40% rate starts at €42,000. That figure is your standard rate cut-off — once your annual earnings exceed it, every extra euro is taxed at 40%.
Two credits reduce your tax bill:
- PAYE tax credit: €1,875 (reduces tax by this amount)
- Personal tax credit: €1,875
Source: Cornmarket — Irish tax credit guide
For married couples, the cut-off point rises to €51,000 for one earner, and can reach €84,000 for two earners (transferable between spouses).
A single professional earning €45,000 in Ireland will have €3,000 of their income sliced at 40%, while a married counterpart earning the same with a working spouse could avoid the higher rate entirely.
The implication: structuring household income matters more in Ireland than in Australia, where the progressive system already smooths the transition between brackets.
How do I calculate how much tax I will pay?
Step 1: Determine your gross income and pay period
Start with your gross fortnightly pay, before any deductions. This is your total earnings for the two-week period.
Step 2: Apply tax-free threshold and tax credits
In Ireland, the tax-free threshold is built into the standard rate cut-off system. You don’t subtract a separate tax-free amount — instead, you apply the 20% rate to income up to the cut-off (€42,000 annually, or about €1,615 per fortnight). Then subtract your tax credits.
Example: €1,615 × 20% = €323 gross tax (before credits) if your income doesn’t exceed the cut-off for a single person.
Step 3: Use the fortnightly tax table for PAYE deductions
Revenue provides official tax tables (Revenue.ie) for weekly, fortnightly, four-weekly, and monthly pay periods. The ATO also publishes a dedicated fortnightly tax table for payments from 1 July 2024 (ATO — fortnightly tax table).
Example: Calculating tax on a salary of €40,000 per year in Ireland
Gross fortnightly: €40,000 ÷ 26 ≈ €1,538.46
- Apply 20% to full amount (within cut-off): €1,538.46 × 20% = €307.69
- Apply tax credits: Total credits = €1,875 annual ÷ 26 = €72.12 per fortnight
- Net tax: €307.69 – €72.12 = €235.57 per fortnight
Source: Cornmarket — calculation example
Bottom line: For Irish employees, the calculation is linear until you hit the cut-off. Above €42,000, every extra fortnightly euro is taxed at 40%, so the marginal rate jump is sharp.
What are the tax brackets for 2024?
Irish tax brackets FY 2024 (income tax)
| Bracket | Rate | Income range |
|---|---|---|
| Standard rate | 20% | €0 – €42,000 (single) |
| Higher rate | 40% | Above €42,000 |
The pattern: Ireland’s two-rate system keeps things simple but creates a steep cliff for those crossing €42,000.
Source: Revenue.ie — official income tax bands
Australian tax brackets FY 2024-25
| Bracket | Rate | Income range |
|---|---|---|
| Tax-free | 0% | $0 – $18,200 |
| Lowest | 19% | $18,201 – $45,000 |
| Middle | 30% | $45,001 – $120,000 |
| Upper-middle | 37% | $120,001 – $180,000 |
| Top | 45% | Above $180,000 |
The pattern: Australia’s progressive system has five bands, Ireland only two. For a €40,000 earner, Ireland’s 20% flat rate is lower than Australia’s 19% plus Medicare levy, but the 40% cliff in Ireland means rapid escalation for higher earners.
Source: ATO — Australian tax rates
How much tax will I pay if I earn 40k?
Calculation for a €40,000 salary in Ireland (2024)
Annual gross: €40,000. Since the entire amount is below the 40% threshold, all income is taxed at 20%. Gross tax: €8,000. Minus PAYE credit (€1,875) and personal credit (€1,875) = net tax ~€4,250. Effective rate: ~10.6%.
Source: Cornmarket — credit application
Calculation for a $40,000 salary in Australia (2024-25)
Tax-free portion: $18,200. Taxable remainder: $21,800 × 19% = $4,142. Plus Medicare levy (2%) on all income: $800. Total tax: ~$4,942. Effective rate: ~12.4%.
Source: EY Ireland Tax Calculator — cross-reference methodology (Australian rates from ATO)
The implication: Ireland’s credits make the first €40,000 remarkably tax-efficient, whereas Australia’s Medicare levy adds cost even at lower incomes.
The Irish advantage for a €40k earner flips once earnings exceed €42,000. A €50,000 Irish earner loses €3,200 of their pay to the 40% marginal rate, while an Australian earner on A$50,000 stays in the 30% bracket — a much smaller jump.
Timeline
- : Start of Irish tax year 2024 with existing brackets and credits.
- : Effective date for new fortnightly tax tables (ATO Australia) and beginning of Australian FY 2024-25.
- : Possible mid-year policy changes — check Revenue Ireland updates.
The pattern: Both jurisdictions time major tax changes to their fiscal year starts, making July a key month for cross-border workers to review withholding.
Clarity: What we know and what remains uncertain
Confirmed facts
- Ireland tax cut-off point for single person is €42,000 for FY 2024 (Revenue.ie — Irish tax authority).
- ATO fortnightly tax table effective 1 July 2024 (ATO — Australian Taxation Office).
- Standard PAYE tax credit amount is €1,875 (Cornmarket — Irish financial guidance).
- Budget 2024 increased single band from €40,000 to €42,000 (TaxCalc.ie — Irish tax analysis).
What’s unclear
- Exact tax credits for specific personal circumstances (e.g., age, health expenses) are not covered in this scope.
- Future legislative changes after publication date.
Quotes from the authorities
Income tax on your wages is calculated using the standard rate of tax at 20% on income up to your standard rate cut-off point. The balance of your income is taxed at 40%.
Revenue Commissioners, official guide (Revenue.ie)
Employers use the fortnightly tax table to work out the amount to withhold from payments made to employees from 1 July 2024.
Australian Taxation Office, tax table hub (ATO)
For anyone managing payroll — whether as an employer or employee — the 2024 fortnightly tax tables are your single most reliable tool for accurate withholding. The core takeaway: Ireland’s two-rate system with generous credits keeps the effective rate low for most earners, but the 40% cliff demands vigilance. Australia’s multi-tier structure offers a softer gradient but adds the Medicare levy. For the cross-border professional, the choice between jurisdictions isn’t just about rates — it’s about where your earnings land relative to the threshold.
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For a more detailed breakdown of Australian tax brackets and rates, you can use the ATO tax bracket calculator to see how your income fits into the marginal tax system.
Frequently asked questions
What is a fortnightly tax table?
A fortnightly tax table is an official publication by a tax authority (like Revenue.ie or the ATO) that shows exactly how much tax an employer should withhold from an employee’s pay over a two-week period, based on their earnings, tax credits, and applicable rates.
How do I use the fortnightly tax table to calculate PAYE?
Take your gross fortnightly pay, apply the tax rate (20% up to your cut-off, 40% on the remainder), then subtract your prorated tax credits for the fortnight. The result is the PAYE amount to withhold.
What is the difference between cumulative and non-cumulative basis?
Cumulative basis tracks your total income for the tax year and applies credits proportionally, so a correction from a previous pay period is automatically adjusted. Non-cumulative (Week 1 basis) treats each payday independently, with no carryover of unused credits.
Where can I find the official 2024 fortnightly tax table for Ireland?
On Revenue.ie — Irish tax authority under the PAYE section. They publish tables for weekly, fortnightly, four-weekly, and monthly periods.
Where can I find the official 2024 fortnightly tax table for Australia?
On ATO — Australian Taxation Office under tax tables for payments from 1 July 2024.
Do tax credits apply to each fortnightly pay?
Yes, tax credits are divided across the number of pay periods in the year. For fortnightly pay (26 periods), you get 1/26th of the annual credit each payday.
What if my employer uses the wrong fortnightly tax table?
If your employer uses an outdated or incorrect table, you may have too much or too little tax withheld. Check your pay slip and contact Revenue or the ATO to verify. A correction on a cumulative basis should adjust automatically in the next pay period.
Andrew Patel leads fact-checking, source verification and corrections at Aussie Focus Hub.