Red Oak Tax Refunds Blog

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

Credit Union Loans for Home improvement

Tax Relief on Home Improvement Loans
Did you know you can claim tax relief on the interest paid on a loan used by you to purchase, improve, repair or develop your main residence or to pay off another loan used for that purpose?  We have previously discussed Mortgage Interest relief but not many people know that [...]

Lies, Damn Lies – and politicians quoting EuroStat

“50% of Workers not paying any Income Tax”
This little snippit of fact has been one of the most frequently  quoted up and down the country by Politicians in this last month.  We hear it quoted as from the Commission for Taxation Report, or as being sourced from EuroStat Reports, EuroStat being an EU agency providing statistical reporting [...]

Married – How to be assessed?

Just Married?  Congrats! 
This week in the Wednesday club we spoke about how you may have potential wedding pressies from the taxman!
If your taxes are not updated you could be missing out on vital tax credits that could make a big difference to your take home pay.  For example:

If you are married you are entitled to the married [...]

Claiming for Tuition Fees

Wednesday Club Blog – Claiming Tuition Fees
When’s a Tuition Fee a Registration fee?
Of the many questions we are asked regarding tuition fees, the most common relate to the difference between Registration fees and Tuition Fees.
From a tax perspective, you will not be able to claim tax relief on Registration fees, but may be able to [...]

Mortgage Interest Relief – Wednesday Club

Wednesday Club Blog – Mortgage Interest Relief
If you are one of the many people who took the plunge and bought your home since 2002, during the infamous Celtic Tiger, you would have been entitled to claim Mortgage Interest Relief or tax relief at source (TRS). With effect from 1st May 2009 the number of tax [...]

Why you might be due Home Carers Tax Credit

Home Carers Tax Credit iinitially started as a House Wife’s tax credit, for the stay at home mum minding the children. But we more and more find that a Married couple will be due this for a partner who has been made redundant and is not working – and this can be either the Mother or Father of the house.

Single parents reviewed by Revenue

Are you a Single Parent?
Not the most complicated question I hear you say - most of us instinctively know the answer to this question and feel it true for our own situation. 
But the Revenue Commissioners take a more definite view on this. 
In Tax Terms, being a Single Parent can be of great benefit and can be [...]

Wednesday Club On Rent Tax Credit

 
 In the Wednesday club this week we were talking about RENT TAX CREDIT.  Who can and cannot claim, how much we can claim (the rates of relief), what information do we need to claim this tax credit and what we should do if our landlord is a non-resident (not many of us do know) or [...]

Wednesday Club on Medical Insurance

Here is one tax credit that not may people are aware of – Medical Insurance Tax Relief.
Some 2.3 million people in Ireland are current subscripting to Private Health Insurance.
Most subscribers are either paying their health insurance premiums directly to their health insurer or though there salary/wage deductions at work, in this case you are automatically [...]

Employment Expenses & Trade Unions

Why have we paired Employment Expenses and Trade Unions together in the first Wednesday Club?  Well Jobs that get employment expenses tend to be Unionised.  Jobs that get great employment expenses tend to be highly, highly Unionised.
So you get occupations like retail/shop employees and the bar trade will get fairly moderate employment expenses, while teachers for example [...]

income levy refunds

Are you due an income levy refund? Here are 8 top reasons people may be able to claim back overpaid income levy amounts in 2009. Get your Income Levy tax back now with Red Oak Tax Refunds.

10 things you should know about your 2009 P60

Welcome to 2010, your post will now start to bristle with all that 2009 summary post. Here, we’ll go through the main document you will receive around now and what it’s for.
2009 P60
Probably the most important and most talked about bit of post you will receive this time of year is your P60. [...]

Claiming Tax Back – What’s New

If you are looking to claim a tax back for 2009, the picture has changed somewhat from previous years.  Some of the changes will mean you are due less of a tax refund, other changes have increased the amount of of tax back that can be reclaimed.
These are these main changes:
More Refunds
You are still allowed [...]

Health Levy & Reducing it’s impact on your Salary

A few weeks ago we spoke about how fundamentals errors in the implementation of the Health Levy could result in a €1,000 gross pay rise could result in less money in your pocket after tax.  We hope the government clears up the impact of this in the forthcoming budget.  There are ways of decreasing the [...]

GP Locums subject to PAYE Tax

Courtesty of the Irish Medical Times, here is some important information for GP’s who hire locums for out of hours cover and indeed for the locums themselves:
http://www.imt.ie/news/2009/11/locums_must_have_paye_deducted.html
This will have a large impact on both the doctors and the locums.  Under PAYE the doctors will have to deduct PRSI, Health levy and income levy for the [...]

How a pay rise can leave you worse off

You can be up to €1,040 worse off for increase in salary in Health Levy fiasco.
Tax system means a €1,000 pay rise can leave you €290 worse off depending on how much you earn.
Lets see this in action and compare your take home pay from earning €25,000 versus €26,000.

So unbelievably a €1,000 payrise will leave [...]

Thanks for the thanks!

We don’t normally publish feedback we get from our customers, but we were especially delighted with the following from Michelle and couldn’t resist!
“Thanks a million for all your help over the past few weeks.
Unfortunately I don’t have access to your facebook from my email, but I
would just like to say that I found [...]

Shopping for medical treatment

Gone are the days when you would go to your local GP or dentist for all treatments, there is now a truly global industry in the provision of medical services. It doesn’t seem that long ago that pictures of Shane Warne’s newest hair transplant treatments were oddities that existed only in the sports pages of [...]

10 things you should know about PRTB

Landlords, have you registered your tenants with the Private Residential Tenancies Board (PRTB)
Here are ten very good reasons why landlords and tenant should make sure that tenancies are registered.
You can find out more about Rent and Tax here.

It’s the Law: Unless you are availing of the rent-a-room relief scheme or other exemption, you have to [...]

Dental benefits from PRSI

Are you paying for visits to your dentist which you should be receiving as a benefit for paying PRSI or for having a medical card?

What’s Covered
In general, a normal person with healthy teeth will get one dental examination and two cleanings per year. You’re also entitled to significant cost reductions on fillings/extraction/root canal and host [...]

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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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