Red Oak Tax Refunds Blog

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

Income Tax Deadline Nov 2009

RedOakTaxRefunds Latest News.  Don’t forget that the income tax filing deadline for self-assesed persons is next Monday. For all of you who thought there was a lot of time left (like some of our clients!) I can tell you we’re very definately in the closing straight now! so sort out those final bits and pieces [...]

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 [...]

CGT Treatment of Anglo Irish Bank Share Losses

As an Anglo Irish Bank Shareholder, the value of your stake in the bank was not finalised on the nationalisation of the bank earlier this year. According to Minister of Finance Brian Lenihan an assessor would be appointed at a future date to decide on the treatment.
However from a tax point of view, and in [...]

Equitable but not Neutral

Just some quick thoughts on the Commission on Taxation and Stamp Duty.
One of the main thrusts of the commission on taxation is that its purpose was not to increase the tax burden, but rather to distribute it more fairly.
However at the time the commission was put together, Stamp Duty produced a huge portion of the [...]

Don’t bin service charges tax refunds

Are we throwing money in the bin by not claiming tax refunds for the cost of our waste disposal?
This is one of the more commonly claimed tax credits, but still a large % of home owners and renters miss out on this.
Very simply?  if you are paid any amount up €400 on waste disposal in [...]

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 [...]

Tax Refunds for Management Fees

Are you Renting or a Home owner and paying management fees?
Not all of your apartment or home management fees are worth a tax credit, but they could still be worth a few quid.
If your management fee includes the cost of waste disposal or a charge for water or sewerage, then you could be able to [...]

Medical Insurance tax credit

Probably the least understood of the common Tax Reliefs is the Medical Insurance Tax Relief – so many people miss out on this tax relief!
How does it work?
If you pay for Medical Insurance to an Insurer direct or through your employer, you will receive this relief at source. i.e. your premium is reduced, so you [...]

DWT Dividend Tax Exemption for Over 65’s

What is DWT
DWT, or Dividend Witholding Tax, is deducted from dividends paid by Irish companies. If you are in receipt of Irish dividend income, DWT is deducted at 20% – this is taken out of the dividend you have received, which you can confirm in your dividend certificate. This 20% is then used as an offset against your income tax liability.

Tax on ISEQ ETF Dividends

While most dividends are taxable in Ireland at your highest rate of tax, one very popular dividend paying investment in Ireland does not. However, many people will miss out on this advantage if they do not complete there tax returns correctly and could easily overpay on tax.
With the ISEQ 20 ® ETF, the rate [...]

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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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