Written by Administrator on November 26, 2014
There’s a lot of benefits to holding a full Medical Card – free GP care, prescriptions and other health services – but there’s also a less well-known advantage which can come in the form of a tax refund.
When it comes to Medical Cards, there’s two key tax refunds we look for and those are – Income Levy and Universal Social Charge.
Income Levy Refunds
In the 2009 Budget, the Income Levy was introduced with rates of 1%, 2% and 3%. And, it
Written by Administrator on November 18, 2014
I hear so many people saying they are following gluten-free diets these days – all claiming they need to for a variety of different reasons.
In reality, many of these same people don’t ‘need’ to adopt a gluten-free diet, it’s a matter of choice – however, there are people who are medically-diagnosed as coeliacs and therefore, must adopt a gluten-free diet.
It’s for this group of people that I thought I’d highlight a tax relief that isn’t so well known and means
Written by Administrator on November 11, 2014
We’ve all heard those ads….you know the ones. The ones that shout their limited sale offer and finish with ‘but when they’re gone, they’re gone!’. Funnily enough, most of these offers are never actually ‘gone’ – but sadly, the same does not apply to unclaimed tax credits which expire after 4 years.
The recent budget gave a little extra back to PAYE workers for the coming tax year, but that doesn’t mean that you should forget about the austerity years when
Written by Administrator on November 5, 2014
It seems everyone in the office here at Red Oak has been giving their teeth some good old TLC recently. In the last month, many of us have gone for routine dental check-ups and 3 of us have started the process of getting braces.
Of course, we are all aware of the tax relief we can claim back for the cost of some of our treatments, but it got me thinking that many of you out there
Written by Administrator on October 29, 2014
From time to time, we get asked why people should choose Red Oak to get their taxes checked. Of course, there’s loads of different options out there – you can try a bit of DIY, engage the services of an accountant or look at the various companies offering services such as ourselves.
For some people, the challenge of navigating the tax system themselves is a thrill – but for others, it’s a complete nightmare. If you fall into the latter group, then
Written by Administrator on October 15, 2014
Many are saying yesterday’s budget heralds the end of austerity in Ireland as, surprisingly, we are once again one of Europe’s fastest growing economies. For the first time since the start of the recession, the Government opened the purse-strings and gave some much-needed relief to struggling taxpayers.
Finance Minister Michael Noonan told us we are now entering a “new phase” where the focus is now ”on reforming the income tax system in a manner that positively contributes
Written by Administrator on October 9, 2014
In our last look at proposed changes to the tax system before the budget next Tuesday, we’ll put the spotlight on the tax bands – ie. the income levels where the Government applies different rates of tax to your salary.
Tax Bands apply to Income Tax, USC and PRSI.
Marginal Income Tax Bands
At the moment, Ireland has one of the lowest entry points at which employees become subject to the higher rate of income
Written by Administrator on October 7, 2014
The rumour mill continues to turn in the lead-up to Budget 2015, and with less than a week to go till the day of truth, we decided to take a look at a tax-break option which has consistently been the dark horse in the Budget race.
Today we’ll examine what would happen if tax credits were increased, and evaluate the savings to you across a range of income levels.
As we have one of the most
Written by Administrator on October 2, 2014
This is the second part of our Pre-Budget series, which is designed to help you navigate the maze of speculation surrounding tax proposals for 2015.
Today we’ll take a look at the well-run rumour of a cut to the Standard Income Tax rates using a 1% reduction, as this is the most common estimation. We’ll give examples across a broad range of salaries so you can estimate how much money you could save if these changes come
Written by Administrator on September 29, 2014
We’re just two weeks away from Budget 2015 and speculation and expectation are on everyone’s lips… Will there be tax cuts and who will get them? There is a lot of jargon being bandied about at the moment, so we thought we’d break it down for you to simplify the rumours that are out there and give some examples so you can see how this might affect you.
In the first part of our budget rumours series,