DIRT declaration in Form 11

Hi,

Up to last year, Form 11 asked for the total amount of DIRT paid. Now, due to changes in DIRT, it now asks for the following:

Gross Deposit Interest received on which DIRT was deducted
(i) In respect of the period 1/1/2009 - 7/4/2009 taxable at 23%
(ii) In respect of the period 8/4/2009 - 31/12/2009 taxable at 25%
(iii) In respect of the period 1/1/2009 - 7/4/2009 taxable at 26%
(iv) In respect of the period 8/4/2009 - 31/12/2009 taxable at 28%

However, my DIRT certificates from the banks do not break the DIRT payments down into the four periods specified. Do I now have to go back to them and ask for new letters ?

Thanks
JR

Are the interest amounts significant? If so, get a full statement. Otherwise use estimates.

I would assume that the date of payment of the interest is what's relevant? and you should have a record of that? Usually for most accounts that's just once per year.

ix.

ixtlan said:

I would assume that the date of payment of the interest is what's relevant?

Click to expand...

Your assumption is correct.

Just to clarify on this point...

I had a regular savings account that “matured” in 2010, which was when the interest was paid into the account although I was putting money in for 6 months of 2009 (It looks like DIRT was deducted). Do I need to declare some portion of this interest in the 2009 tax return, or is it just about when interest was paid (rather than when it was being “earned”)?

T McGibney's post above would seem to imply the latter..?

Thanks.
F'OB

I understand the important date is that on which the interest is paid to you.