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Claim back your taxes
mattc
27/01/2010 17:27:00
Some 800,000 workers claimed a tax refunds totalling €580m from the Revenue Commissioners in the first 10 months of last year alone.
Here are some items you should claim:
Medical expenses
You can get 20pc of the money you spent on health expenses last year and 20pc of your spending on medical expenses this year.
This only applies to medical expenses that have not been reimbursed by a private health insurer.
Medical expenses include GP costs, drugs and medicines, hearing aids, home nursing and maternity care, among others.
If you are claiming medical expenses for 2008, and you are a higher rate taxpayer, your claim should be granted at 41pc.
Expenses last year of €400, will generate €80 in a cheque from the taxman.
Download a form called Med 1 from www.revenue.ie,
Service charges
Income tax relief is available for individuals who pay local authority and other service charges. Relief is given for service charges paid in full and on time in the previous calendar year.
The total that can be claimed for service charges is €400. This is given at the standard 20pc rate of tax. So if you paid €300 last year you will get €60.
Rent a room
Where a room in a person’s main residence is let as residential accommodation, gross annual rental income of up to €10,000 in 2008 and 2009 is exempt from tax.
Trade unions
Tax relief is available at the standard rate on subscriptions paid to trade unions up to a maximum of €350, which means a tax credit of €70 for someone who pays this much.
Home carer’s credit
The home carer's credit of €900 may be claimed by a married couple where the husband or wife cares for one or more dependent children, and where they are jointly assessed.
A tax credit has the effect of reducing your payable tax by the amount of the credit.
If the home carer earns an income of less than €5,080 they can still claim the full credit. If they have income between €5,080 and €6,880 - reduced credit.
The tax credit is not available to married couples who are taxed as single persons.
Neither is the tax credit available to married couples with combined incomes over €45,400 in the tax year 2009 and who claim the increased standard rate tax band for dual income couples.
Tuition fees
Tax relief at the standard rate of tax (20pc) in the tax years 2008 and 2009 is available for certain tuition fees.
The maximum limit on such qualifying fees for the academic years 2008/2009 and 2009/2010 is €5,000.