Reporting of part time and overtime in FSS documents as from 01/01/2022
Following the Government Budget for 2022, employers are to make sure to conform with the changes announced concerning the emoluments and tax of part time qualifying income and overtime.
• Tax on part time qualifying income is to be updated to 10%, where the part time tax to be reported on such emoluments cannot be more than €1,000.
Any additional emoluments and tax are to be reported as ‘main’.
• The maximum qualifying overtime emoluments cannot be more than €10,000 with the relative maximum 15% tax on overtime being €1,500.
Any non-qualifying overtime or amounts in excess of the €10,000 threshold must be reported and brought to charge under the Main Deduction Method.
• The reporting of the qualifying overtime hours in FS3 forms is to stand. However, as from 01/01/2022, the current limit of 100 hours will be removed.
Social Security and Maternity Fund Contributions rates
The rates applicable from 01/01/2022 are available
here.
FSS documents and Electronic Lodgement Specifications