If you are aged 65 or over and live in Ireland, 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 is possible to get tax relief for covenants to people aged 65 and over.
In certain circumstances, you may be able to reclaim any Deposit Interest Retention Tax paid. Annual exemption limits for 2009 and 2010
Status Aged 65 and over
- Single/Widowed person €20,000
- Married Couple €40,000
Wednesday, April 7, 2010
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excellent post - I think a lot of people overpay DIRT. There is also a specific age tax credit available for over 65's. at €650 for married people, this is well worth claiming.
ReplyDeleteYou can find out more at www.redoaktaxrefunds.ie