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In the news lately is the fact that the Revenue Commissioners are now targeting pensioners for failing to declare untaxed income. With tax income down on the good old days, Revenue are having to find ways of boosting their tax take. By the sounds of it they are beginning to communicate more effectively with…
Older people’s tax credits and reliefs Information Rules How to apply Where to apply Information If you are aged 65 or over, you are liable to pay income tax in the normal way. However, the tax exemption limits are much higher for people aged 65 or over and there are some extra tax credits. It…
Thousands of applications have been received for the government’s long-awaited Fair Deal scheme since it came into effect last year, yet concerns remain about the scheme’s effectiveness. The scheme, which is officially called the Nursing Homes Support Scheme, was introduced by Minister for Health and Children Mary Harney in late October. It replaced the former…
People aged 65 and over are subject to the same general tax rules as everyone else but they do get higher exemption limits and some extra tax credits. In general, if you are taxed exclusively under PAYE (this includes people whose non-PAYE income is taxed by having it coded into their determination of tax credits,…
Nursing home fees still allow tax relief at 41%. This means if you are paying €20,000 per year to a nursing home you can claim back up to €8,200 in tax if you are paying tax at the higher rate. If your son/relative or other family are paying this for you they can claim this…
I am launching today a new section dedicated to Older people. Here, I intend to post a range of ideas which may save you money, in the form of tax or otherwise. Today I start with DIRT tax : People over 65 You can get your deposit interest paid without the deduction of DIRT or…
LONG-TERM nursing home residents can now apply for a new financial aid package, following the introduction of the Fair Deal nursing home support scheme yesterday. Although the scheme won’t become operational until October 27th, the new care representative appointment process has already commenced, which means that individuals looking to avail of financial aid on behalf…
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