Last Updated: Jan 2017
A P60 is a VALUABLE DOCUMENT, it is important that it is kept safely. This document is available via Coreportal Page (Link below) with the exception of Part Time Claim Form Staff and DCU Pensioners (whom have not opted for Electronic Method) who will receive Paper Copy of the document.
It may be required for dealings with the Inspector of Taxes (Revenue), Department of Social Protection (DSP) or a lending agent as proof of earnings when apply for a loan.
Pay (Column (A) Pay, No. 3):
As Tax Relief has been given at source by DCU on the following deductions (subject to approved limits), your Gross pay quoted on the P60 equals your Actual Pay PLUS any taxable benefits (notional pay) received e.g. Illness Benefit applied by payroll or Benefit in Kind if appropriate, LESS any of the following schemes that you may have contributed towards within the Tax Year:
- Standard DCU Pension Contributions,
- Group Life Contributions
- Income Continuance Plan
- Added Voluntary Contributions
- Purchase of Added Years
- Purchase of Temporary Years
- Purchase of External Service
- Easi Travel Scheme
- Cycle to Work Scheme
- Public Services PRSA
- Pension Related Deduction (PRD)
Illness Benefit (See Column (A) Pay, No. 4):
ALL Illness Benefit paid to an employee by Dept of Social Protection is TAXABLE by DCU with the exception of the Child Dependent Portion. Any such payment taxed by DCU during the year will be reflected in this field on the P60.
Local Property Tax (See Column (C) :
This figure reflects LPT deducted within the tax year if you opted to pay via Salary Deduction
Universal Social Charge(See Column (D) Pay for USC Purposes, No 3) :
This column will show your gross pay for USC purposes and USC paid. Your USCable income will include ALL income paid by DCU Less any contributions to Cycle to Work Scheme, Easi Travel Scheme and any Social Welfare payment (Illness or Maternity Benefit) reflected in your pay runs for the tax year.
P21 Balancing Statement from Revenue:
It is always advisable to request a balancing statement (P21) from the Inspector of Taxes; this will keep your tax affairs up to date. This should be done via Revenue Online Service via myAccount. There is no need to submit your P60 as the details will be available to Revenue on line. For further details on this system see Revenue link https://www.ros.ie/myaccount-web/home.html