12 Questions
What is the definition of Gross Pay?
The total amount of money earned by an employee before any deductions are made
What is the definition of Basic Pay?
The fixed amount of money an employee receives for their work before any additional payments or allowances are added
What is the purpose of Tax Bands in Ireland?
To determine the rate of income tax an individual must pay based on their income range
What is the definition of Flat Rate Expenses in Ireland?
Certain employees may be entitled to claim a fixed amount of expenses related to their employment without the need to provide receipts or detailed records
What is the definition of PAYE (Pay As You Earn) in Ireland?
The system used by employers to deduct income tax, PRSI, and USC from employees' wages or salaries as they are earned
What is the definition of a Tax Calendar in Ireland?
A schedule of important tax-related dates and deadlines throughout the year
What does superannuation refer to in Ireland?
Pension plans or retirement savings schemes provided by employers to their employees
Who is considered a public sector employee in Ireland?
An individual who works for government entities or organizations funded by the government
What is a PPS (Personal Public Service) number used for in Ireland?
All of the above
Which of the following is an example of a 'Benefit in Kind' provided to employees in Ireland?
Company car, housing, or health insurance
How are holiday pay calculations determined for employees in Ireland?
Based on the employee's normal wages or salaries
What is the purpose of PRSI (Pay Related Social Insurance) in Ireland?
To provide certain social welfare benefits, such as unemployment and illness benefits
Test your knowledge on payroll terminology including concepts like Gross Pay, Basic Pay, and Tax Bands. Learn about the different components that make up an employee's total earnings and how tax bands affect income tax calculations.
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