Hi im wondering if anyone knows about interest earned on an overseas tearm deposit account is liable for tax in Ireland. Currently i have some money that was saved from many years of work in AUS and IRELAND and as interest rates are high in AUS i have decided to leave the money in the AUS account as it earns more than putting this on my mortgage. Currently i earn 6.0% and pay tax on the interest at maturity in Australia. The interest earned would convert to between 2000-3000 euro per year in total (depending on the exchange rate at the time)
I have lived in IRELAND for 6 years and have applied for citizenship but am unsure if or how this couple of thousand per year would be viewed by revenue. I do pay TAX in Australia (as the taxation system is very structured and strict) on this money already, however am not sure if this makes any difference.
Thanks in advance