income tax Archives

Charitable deductions & Tax – Who Claims?

Thursday, 22 September 2011 by John O' Connor

Giving to charity is good – and saves on tax! Giving to Charity and supporting charities, particular home based charities, is so much more in the public domain now, at least compared to my childhood when charity meant the Lenten box for Africa. Fortunately, the tax system supports us giving to charity. But in some

Published in Income Tax, Paye Tax

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4 year plan – the Income Tax Changes

Wednesday, 24 November 2010 by John O' Connor

Front loading with 2/3’s of increases in Budget 2011 Lots of reaction to the 4 year National Recovery plan issued today, but we wanted to give you a bit more information on what income tax changes have been signaled today in the 140 page 4 year plan. The Main stated Tax Credit changes are: Trade

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Published in Budget 2012

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Income Tax Deadline Nov 2009

Tuesday, 10 November 2009 by John O' Connor

RedOakTaxRefunds Latest News. Don’t forget that the income tax filing deadline for self-assesed persons is next Monday. For all of you who thought there was a lot of time left (like some of our clients!) I can tell you we’re very definately in the closing straight now! so sort out those final bits and pieces

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Published in Random posts

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How a pay rise can leave you worse off

Monday, 02 November 2009 by John O' Connor

You can be up to €1,040 worse off for increase in salary in Health Levy fiasco. Tax system means a €1,000 pay rise can leave you €290 worse off depending on how much you earn. Lets see this in action and compare your take home pay from earning €25,000 versus €26,000. So unbelievably a €1,000

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Published in Health Levy, Income Levy, Income Tax, Paye Tax, PRSI

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CGT Treatment of Anglo Irish Bank Share Losses

Wednesday, 28 October 2009 by John O' Connor

As an Anglo Irish Bank Shareholder, the value of your stake in the bank was not finalised on the nationalisation of the bank earlier this year. According to Minister of Finance Brian Lenihan an assessor would be appointed at a future date to decide on the treatment. However from a tax point of view, and

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Published in Income Tax

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Equitable but not Neutral

Monday, 14 September 2009 by John O' Connor

Just some quick thoughts on the Commission on Taxation and Stamp Duty. One of the main thrusts of the commission on taxation is that its purpose was not to increase the tax burden, but rather to distribute it more fairly. However at the time the commission was put together, Stamp Duty produced a huge portion

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Published in Budget 2012, Income Tax

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Don’t bin service charges tax refunds

Wednesday, 02 September 2009 by John O' Connor

Are we throwing money in the bin by not claiming tax refunds for the cost of our waste disposal? This is one of the more commonly claimed tax credits, but still a large % of home owners and renters miss out on this. Very simply? if you are paid any amount up €400 on waste

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Published in Bin & Service Charges, Income Tax, Paye Tax, Tax Refunds

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DIRT Tax refunds for over 65’s

Tuesday, 04 August 2009 by John O' Connor

If you are over 65, you may not need to pay DIRT (Deposit Interest Retention Tax) on your deposit income. Exemption limits: As of 2009, if you earn less than €20,000 as a single person, or €40,000 as a married couple then you are exemption from DIRT tax. This exemption is increased for each dependent

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Published in DIRT tax, Income Tax, Paye Tax, Self-Employed & Directors, Tax Refunds

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Tax Refunds for Management Fees

Thursday, 30 July 2009 by John O' Connor

Are you Renting or a Home owner and paying management fees? Not all of your apartment or home management fees are worth a tax credit, but they could still be worth a few quid. If your management fee includes the cost of waste disposal or a charge for water or sewerage, then you could be

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Published in Bin & Service Charges, Income Tax, Paye Tax, Tax Refunds

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Medical Insurance tax credit

Wednesday, 29 July 2009 by John O' Connor

Probably the least understood of the common Tax Reliefs is the Medical Insurance Tax Relief – so many people miss out on this tax relief! How does it work? If you pay for Medical Insurance to an Insurer direct or through your employer, you will receive this relief at source. i.e. your premium is reduced,

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Published in Medical Expenses, Medical Insurance, Paye Tax, Tax Refunds

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Tag: income tax