Tax Refunds Due! Don't lose out

Calling all Irish Workers!

You only have up until 31 December 2022 to claim your 2018 tax refund! On Average it is reported that people claim refunds of up to €1,880 each year, so it’s really worth checking out your entitlements!

What can you apply for?

Health Expenses - Medical & Dental

You can claim relief on the cost of health expenses. These can be your own health expenses, those of a family member or any individual’s, as long as you paid for them.

You generally receive tax relief for health expenses at your standard rate of tax (20%). Nursing home expenses are given at your highest rate of tax (up to 40%).

More information on the type of expenses that qualify for relief and how you can claim click HERE

Remote Working Relief – Working from Home

For 2022 and subsequent years you can claim 30% of the cost of electricity, heat and broadband (apportioned based on the number of days worked from home over the year).

For the years 2020 and 2021 you can claim for:

• 10% of the cost of electricity and heat (apportioned based on the number of days worked from home over the year)

• 30% of the cost of broadband (apportioned based on the number of days worked from home over the year).

For the years 2018 to 2019 - 10% of the cost of electricity and heat (apportioned based on the number of days worked from home over the year).

Read more information for the above relief HERE

Tuition fees paid for third level education

You can claim 20% tax relief on qualifying fees (including the student contribution) that you have paid for third level education courses. The qualifying fees must be paid for an approved course at an approved college.

Other charges and levies do not qualify for relief such as:

• administration fees

• student centre levy

• sports centre charge

• USI (Union of Students in Ireland) levy.

You may be the student, or you may pay the fees on the student's behalf. However you can only claim the relief if you are the person who actually paid the fees.

For all the details on what you can claim for click HERE

Flat Rate Expenses

Many employees such as Medical and Healthcare Professionals, Engineers, Tradespeople, Teachers, Lecturers, Hairdressers, Beauticians, Retail workers and a host of other professions are eligible to claim tax back on a range of flat rate expenses yet are unaware of the extent they can claim back.

These expenses are designed to cover common work related costs such as tools, uniforms and stationery.

For more information about who can claim flat rate expenses and how much click HERE

Dependent Relative Tax Rebate

Thousands of people in Ireland have dependent relatives, but do not claim the annual Dependent Relative Tax allowance, which is €490 for 2 dependents. You are entitled to claim for any elderly dependent relatives whether they reside in Ireland or elsewhere in the world.

The allowance increased from €70 to €245 per dependent relative from 1st January 2021. If you have supported 4 people in 2021, you will be able to claim a rebate of up to €980.

Maintaining a relative at your own expense means meeting the costs of everyday living. You must substantially maintain your relative where they cannot maintain themselves.

Conditions to qualify

The relative you claim for must be your, or your spouse's or civil partner's:

• relative, who is unable to maintain themselves due to incapacity by old age or infirmity

• widowed father or widowed mother, whether incapacitated or not

• parent who is a surviving civil partner, whether they are incapacitated or not

• child who lives with you and on whose services you depend due to your old age or infirmity.

There is no requirement for the relative to live in Ireland to qualify for this credit. However, if you are claiming for your child on whose services you depend, that child must live in Ireland with you.

You cannot generally claim the credit for your child, unless they live with you and are your carer. In this case your child’s income cannot exceed €16,156.

If you are claiming for a relative who resides outside of Ireland you must be able to prove that you substantially maintain this relative. You should also be able to prove that the relative is incapacitated by old age or infirmity from maintaining themselves in relevant cases.

Relief due

You can receive a tax credit of €245 with effect from 1 January 2021 (€70 for previous years).

You will not receive a tax credit if your dependent relative's income exceeds €16,156 with effect from 1 January 2022 (€15,740 for 2021).

All of your dependent relative's income is included for the income limit purposes. This includes their social welfare payments, pensions and deposit interest.

If more than one person maintains the dependent relative, the credit is divided between or among them.

Full information available HERE

Single Person Child Carer Credit (SPCCC)

If you care for a child on your own, you may be able to claim the Single Person Child Carer Credit (SPCCC). This child may be:

• your own child

• an adopted child

• any child that you support and maintain at your own expense.

Only one parent or guardian of a child can claim the SPCCC in a tax year. You may only claim one credit, even if you care for more than one child.

This credit came into effect on 1 January 2014. The value of this tax credit is €1,650 per year. This will reduce the tax you pay by €31.73 per week.

You may also be entitled to an increased rate band of €4,000. This is an additional €4,000 at the 20% tax rate. If you are due the SPCCC, then you are automatically due the increased rate band.

More information available HERE

Emergency Tax Refund

Many workers pay a higher rate of tax – or emergency tax – when they start a new job. The good news is that you can claim your emergency tax back! So if you have started a new job recently check it out just in case HERE

Pension Contributions

Information on claiming for Pension Contributions can be found HERE

There are lots of other areas where you could save such as;

Bike to Work Scheme

The Cycle to Work Scheme (generally known as the Bike to Work Scheme) is a tax incentive scheme to encourage employees to cycle to work. Under the scheme an employer can pay for a new bicycle (including bicycle accessories) and the employee then repays the cost in regular instalments from their gross salary.

You are not liable for tax, PRSI or the Universal Social Charge on your repayments.

Your employer does not have to take part in the scheme. However if they do, they must offer it to all their employees. If you are self-employed you are not entitled to avail of the Bike to Work Scheme unless you pay PRSI as an employee in addition to your self-employed work.

The scheme applies to bikes and equipment up to the value of €1,250 and for pedelecs or e-bikes and related safety equipment up to the value of €1,500.

As an employee you can use the scheme once every 4 years. The four-year span between tax breaks is counted by tax year. If you bought a bike in 2018, regardless of the month, you could buy a new bike and avail of the next tax relief in January 2022.

Check it out HERE

FOR ALL OTHER INFORMATION ON YOUR ENTITLEMENTS CHECK OUT REVENUE.IE