Im in the process of looking at my rental income for 2014 .... My net rental income after expenses is €3,163 which is just falling under the rate taht would be classified as a chargeable person. I also have earned €1,509 on deposit interest but I have already paid DIRT on this. According to Citizens Information I am therefore Not a Chargeable person ...Is this correct?
As far as I understand it, you are chargeable once your total unearned income is above the threshold. It doesn't matter that some of the income is deposit interest on which you have already paid DIRT. (I, for instance, have no income at all other than deposit interest and I am chargeable). Unfortunately, when you make your declaration, Revenue will now also charge you 4% PRSI on the deposit income, on top of the DIRT.
Thanks for replies ...the threshold is €3174 Jim ..... Just got through to revenue who said im not chargeable eventhough my interpretation of their leaflets is that I am ....what should I do ?