Are There Any Tax Advantages When one Reaches 65/66 Years.

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B1e2r3n4a5rd

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Are there any tax benifits when one reaches the age of 65/66 years.

Are there any extra tax credits?

Is there any income of any kind that is tax free?

Is it true that interest to a certain level is taxfree?

Is it true that PRSI or USC is not payable?
 
Extra tax credits, yes. Age Tax Credit 245 (worth €1225 tax free) single, or 490 married.
Higher exemption, so if you have a gross income of less than €18,000 (single) or €36,00 (married) you pay no Income Tax.
This could also enable you (and spouse even if under 65) to receive deposit interest without Dirt deduction.

Tax free income: I presume the non-contributoy state pension would be tax free, as it's means tested.

USC you will still pay if you are over the €10,036 exemption threshold. Welfare income and deposit interest not included in arriving at that income.

PRSI will be Nil if over 66 and income under €480 per week.

Also check out www.welfare.ie to see if you might qualify for the Household benefits package.
 
If you had a Non-Contributory pension at age 66 (means tested) you would be below the tax exemption level and therefore not taxable
 
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