Why Are The Over 65's D.I.R.T. Exempt

B

belview

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It does not appear fair that those over 65 if they have savings on deposit are exempt from D.I.R.T. Tax.

Many of these individuals have free travel , free phone , subsidised ESB ,Fuel vouchers, Medical Cards and one of the most generous old age pensions in the world.

There are undoubtably poor pensioners but many are comfortable and are well able to save money. They should pay DIRT Tax on this money like all othe citizens
 
Change the vote for 18-65 year-olds only with a job

Then tax the **** out of everyone else!
 
Only DIRT exempt if joint income below €40000 or single €20000. Well off pensioners do pay DIRT.
 
Over 65's are not exempt from DIRT but it is refundable if covered by their tax credits. That's not the case for under 65's.
 
Gervan
It amuses me that a couple aged over 65 with income of over 40,000 between them are considered "well off" while a couple under the magic age with the same income would come into the "low income" group
 
DIRT is paid by the bank and then it's up to the pensioner to fill in a form for revenue to get refunded.

Most pensioners don't want to fill in forms detailing their often small life savings and I seem to remember a few years ago only a few hundred pensioners were availing of the exemption.

It looked like a scheme that allowed the government to claim there was an exemption but in the full knowledge it wasn't going to be used in any meaningful way.

There's no point in getting rid of an exemption no-one uses, unless you want to draw attention to it and perhaps ensure people use it more.
 
if you entitled to the refund, you can have the interest paid gross
 
Here information from EBS site [broken link removed]

You probably have to ask your bank/building society for the appropiate form
 
hopalong said:
the home comforts are means tested from age 65-70.
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Hopalong - I presume you are referring to the Household Benefits - TV, Phone, Electricity.
Where all of the occupants of the household are pensioners, there is no means test, and therefore it is regularly given to a married couple if both are over 65 and in receipt of state pension, and the family has fledged and left the nest.
 
if a couple earn under the limit between them , one is over 65 and the other is under 65 and the under 65 pays 300 dirt can they claim it back .the older claims for joint tax asessmemt .
 
Yes moonman, even if the account is in the sole name of the younger partner. Provided the joint Total Income including the deposit interest is below the exemption limit. Limit was €40,000 in 2010, now €36,000 in 2011.
If setting up a new account always complete Form DE1.
I presume this is after the deposit has been received, since you know €300 DIRT has been paid. In that case you will have to submit a Form 12 after year end to get the DIRT refunded.
 
thanks gervan for that info ,it was paid last year ,and she recieved the end of year statement the other day. i have since been told that i can bring the certificate of payment to the tax office here in dublin and they re adjust things and send a refund in time.
 
Black Sheep said:
Gervan
It amuses me that a couple aged over 65 with income of over 40,000 between them are considered "well off" while a couple under the magic age with the same income would come into the "low income" group
Click to expand...


I think to be fair it is has logic, typically speaking most over 65's would have no mortgage or young dependants and would again generally speaking be in a much sounder financial position than most young people/couples.

Couples with an income < 40k a year with the added financial burden outlined would certainly not have anywhere near as much disposable income as 2 over 65's with the same income.

I think the term well off might be pushing it but we are all going to have to pay tax and will all hopefully benefit from the breaks etc.. when the time comes for each individual.
 
Hopefully we'll all get to enjoy these benefits someday.
Most of these pensioners didn't have the benefit of free education (and I mean here up to Leaving Cert not even 3rd level ) or the high salaries of the Celtic Tiger cubs. I don't begrudge them a cent.
A lot of them also help out by minding grandchildren etc or helping out their cash strapped offspring in monetary terms.
Also remember that pensioners often have much higher medical bills.
 
There are different needs for Older People too. Many can no longer do their essential repairs, maintenance and repainting of their homes, as they once used to.
Keeping their gardens is more difficult in older age, many enjoy good health but few escape the effects of arthritis, wear and tear of joints etc. The older generation would not have had the benefit of all the modern conveniences which take the heavy work out of every day living nor the knowledge, that todays young people have of the need to take care of themselves, that we have today.
Keeping their gardens is often more than many older people can cope with. What used to be easy and very enjoyable, not seems more painful and impossible.
More Volunteering would be wonderful in many of these situations or a low cost service for those who need it.
Dont forget the extra heating costs when one is home all day and not very active. Browtal
 
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Sounds like you are begrudging the OAPs, for something they have got that you have not, why? I have all of the perks, but as an elderly couple we have a lot of medical expenses, we have a GP Visitor card but not a Medical card, every month we pay the maximum €120 for drugs, we have just paid €75 for a hospital out-patient visit for one day, even travel Insurance cost more.

I have savings because I planned ahead and paid into pension system all of my life, as well as my PRSI. I am even paying the new USC on my private pension
 
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