Hi folks,
Filling out SUSI grant application online for first time, I declared about €8,000 in investment income for last year (2015). Now this ALL came from the maturity of State Savings Bonds, some of which I inherited from my late father. This turned out to be something of a “perfect storm” insofar as there were no bonds maturing in 2014 or none this year. All came together in 2015.
I have received a letter from SUSI looking for
(1) Statements detailing the interest/dividends received from your financial institution or company covering the period 1.1.2015-31.12.2015 and
(2) P21 PAYE Balancing Statement or an acknowledgement from Revenue that you were Self-Assessed for 2015. This document is known as “Revenue’s Indicative calculation on which you based your self assessment”. If the income was earned outside the state, please provide the equivalent documentation”
WRT #1, I can provide copies of the letters you get with maturing state products, no problem there. I am taxed under PAYE (retired, small pension) but WRT #2, do I need to trot into Revenue and become Self-Assessed for the 2015 year only?
Therefore I am wondering if I was correct to actually disclose investment return from State savings products at all? Given that these are supposedly free from Income Tax, UCS, CGT and PRSI. I did it to be honest, to be honest!
Thanks, RM