Written by Administrator on October 14, 2015
Now that we’ve all had time to digest the announcement of Budget 2017, you may still be wondering exactly how it will affect you come January 1.
Here’s our Budget 2017 highlights
Tax rates and Bands
No changes to income tax rates or bands
Universal Social Charge
The 1.0% rate will be reduced to 0.5% for the first €12,012 of income
3.0% rate will drop to 2.5% on increased threshold of €12,013 – €18,772
The 5.5% rate will be reduced to 5.0% for income in excess of €18,772 up to €70,044
Written by Administrator on June 11, 2015
You always hear about people getting tax refunds and yes, tax refund companies – like ourselves – always share stories of their top refunds with amounts like €10,000, €6,000 even €20,000 in some lucky instances. But the question remains, where do these refunds come from? And how do you know what kind of refund you could be due?
The short answer is, it’s hard to tell. There are so many factors that can impact on your tax bill, there’s no basic
Written by Administrator on April 1, 2015
It’s mid term and don’t you know all the teachers are out having fun – maybe sunning themselves in the South of Spain or having a staycation somewhere closer to home. Well….maybe that’s what all us non-teachers think, but my sister is a teacher and in all honesty she spends most of her mid-term prepping for the coming term or even sometimes marking student’s work! Not how I would like to spend my holidays!
But, one thing they should be doing
Written by Administrator on March 25, 2015
Let’s face it. As a student, more often than not you are living on a shoestring budget. Between books, nights out and rent/board, it can be a bit of a financial struggle.
So, like many others, you might have a part-time job – or two, or three! – which gives the bank balance a bit of a boost. But it still seems like a lot of your pay is going to the tax man.
Students are often the worst for claiming back
Written by Administrator on March 11, 2015
It’s a little bit of a contradiction – an Aussie writing a post about Paddy’s Day in Ireland – but after living in this beautiful country for over 4 years, there’s so many things of pure Irishness that I have come to love. And…you simply wouldn’t find anywhere else in the world!
So, to celebrate Paddy’s day, I asked around the office for our team to give me their example of pure Irishness – whether it’s a memory from their childhood,
Written by Administrator on March 5, 2015
One question I hear a lot is ‘Why did my friend get a larger refund than me?’. Well….how long is a piece of string? Really, the answer to that question is far from straightforward, as differences in refunds can be due to any amount of reasons.
What we find is people of a similar age and circumstances are often confused as to why their friends got a better refund and really one of the major reasons can be the type of job they’re
Written by Administrator on February 24, 2015
Last week, Sarah took a look at the ways Social Welfare can affect your tax bill – which in many cases could mean you owe Revenue additional taxes. However, I recently had a client where quite the opposite happened and resulted in a refund of over €7,000! So, I thought it was worth sharing.
The client had been receiving the One Parent Family Payment until 2009 when her daughter turned 18 years old. Given this is a taxable source of social
Written by Administrator on February 19, 2015
Many of our clients have received some sort of social welfare income over the years and it always seems to be a key area of confusion when it comes to how it affects their taxes. Some have gone ahead and requested a P21 to see if they are due a refund, only to receive notification that they owe Revenue additional taxes.
Here, I take a look at four key ways social welfare income can affect your tax bill.
1. Most Social Welfare
Written by Administrator on February 5, 2015
We all have medical expenses of some nature – maybe the odd trip to the doctor or a prescription to treat a niggling flu – but I’m amazed by the amount of people who don’t bother to check if they can claim tax relief on them. I don’t know about you, but if there’s any possibility of claiming some of my taxes back, I’m up for it!
In short, you may claim tax relief of 20% on the cost of certain
Written by Administrator on January 27, 2015
It was good while it lasted – but gone are the days when both parents could claim the One Parent Family Tax Credit (OPFTC) if they weren’t co-habiting and the child stayed with you at least one night during the year.
From the 1st January 2014, the OPFTC was replaced with the Single Person Child Carer Credit (SPCCC). The key difference between them is that only one parent can claim the credit and that is generally the person with whom the child lives