We (nearly) all pay dirt on deposits regardless of the tax rate we are on.
However, should a higher rate tax payer be declaring all interest earned to the Revenue and are they technically obliged to any pay interest over and above DIRT?
From previous posts it seems to be clear that the new Income levies do not apply to dirt subjected interest (Please correct me if this is incorrect)
However, several posters also mention that PRSI/health levy may apply.
If you do not reach the PRSI ceiling in a given year are you liable to pay an extra 8% (prsi plus health levy) over and above DIRT on your deposit interest earned?
This is such a vague area I would really love to know a definitive answer.
However, should a higher rate tax payer be declaring all interest earned to the Revenue and are they technically obliged to any pay interest over and above DIRT?
From previous posts it seems to be clear that the new Income levies do not apply to dirt subjected interest (Please correct me if this is incorrect)
However, several posters also mention that PRSI/health levy may apply.
If you do not reach the PRSI ceiling in a given year are you liable to pay an extra 8% (prsi plus health levy) over and above DIRT on your deposit interest earned?
This is such a vague area I would really love to know a definitive answer.