Fixed rate account versus tax exemt.

[Cobra]

My wife has 20000euro in fixed rate account with Hallifax. She will be 65 and retireing in Aug. this year. I will not retire for 4 more years. Now , my question is will my wife be exempt from paying tax when she reaches 65 in Aug. even though i will still be working.

 

[Lightning]

It would appear from this page ( http://www.revenue.ie/en/tax/dirt/dirt-repayments.html ) that anyone 65 or over can claim back DIRT regardless of their circumstances.

 

[WaterSprite]

You still need to be under the income limit to get a DIRT exemption.

You need to look at the "or/and"s on that Revenue page - which is not the clearest.

In order to be exempt from DIRT, you need to be either
- over 65; or
- permanently incapacitated

AND (in each case)

- under the relevant income limits.

See this revenue link which sets it out more clearly.

OP, if you are jointly assessed and if your income levels are above the exemption treshold, then DIRT will still be payable, notwithstanding that one or both of you is over 65.

Sprite

 

[Cobra]

You still need to be under the income limit to get a DIRT exemption.

You need to look at the "or/and"s on that Revenue page - which is not the clearest.

In order to be exempt from DIRT, you need to be either
- over 65; or
- permanently incapacitated

AND (in each case)

- under the relevant income limits.

See this revenue link which sets it out more clearly.

OP, if you are jointly assessed and if your income levels are above the exemption treshold, then DIRT will still be payable, notwithstanding that one or both of you is over 65.

Sprite

Thanks very much for this info. The link was very helpfull.