Red Oak Tax Refunds Blog

Latest News on Income Tax, Tax Refunds and money matters in Ireland

Maintenance Payments –How it affects your Income levy and PRSI

Firstly, how maintenance payment is treated for Income Levy depends on whether you have voluntarily agreed to pay maintenance or if there is a legally enforceable agreement

Child Benefit – Proposed changes

The Commission on Taxation’s job was to make suggestions across the spectrum of tax and social payments and Child benefit is proving to be one of the most vexing issues. But they will be recommending to the Government next week that Child Benefit is made taxable. How would Taxing Child Benefit work?

Calculate my Mortgage Interest Relief

So you have a new/existing mortgage or loan relating to your home and want to know how much you are due in mortgage interest relief. there are 3 questions you need to ask yourself in relation to this:

Have I an eligible loan?
Am I a First Time Buyer (FTB)?
What are the rates of relief?

We have looked [...]

Irish Banks on Takeover radar

I see that a Canadian bank is in discussions with AIB (http://www.rte.ie/news/2009/0814/aib.html)
It is unsure whether the bank is interested in the whole group or just the US business.  If it were interested in the whole group, this could have very significant consequences.
Not least, this could have implications for NAMA.  We have seen how the dutch [...]

Mortgage Interest Relief – are you a 1st time Buyer?

So much changed for mortgage holders in the April 2009 emergency Budget. Many who previously had mortgage interest relief lost it, and for others the amount they received changed.
We have already looked at eligiblility in a previous post (Here). Once you have checked that you are eligible, the next step is to see [...]

Mortgage Interest Relief – is my loan eligible?

Following the emergency budget in April 2009, a number of changes were made to mortgage interest relief. These affected

Who is eligible for mortgage interest relief
How much relief you will get

We’re going to look at who is eligible for mortgage interest relief here.  In later posts, we will look at how much relief you are [...]

DIRT Tax refunds for over 65’s

If you are over 65, you may not need to pay DIRT (Deposit Interest Retention Tax) on your deposit income.
Exemption limits:
As of 2009, if you earn less than €20,000 as a single person, or €40,000 as a married couple then you are exemption from DIRT tax.
This exemption is increased for each dependent person by amounts [...]

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Welcome to the Red Oak Tax Refund Blog, where we will discuss money matters, tax and in particular tax refunds relating to PAYE employment in Ireland. If you have any topics you would like discussed, send us a mail to refunds@redoaktaxrefunds.ie and happy reading!.

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