Tax Relief

Laois / Offaly TD urge individuals to use for tax breaks on spending

Laois / Offaly Fine Gael TD Charlie Flanagan.

Released:
Mon 10 Jan. 2022, 12:57 pm

Last updated:
Mon 10 Jan. 2022, 7:56 p.m.

According to Laois / Offaly TD Charlie Flanagan, January is a good opportunity for people across the constituency to take advantage of tax breaks for expenses such as medical bills and homeworking that are due to them.

Deputy Flanagan said, “Managing your finances can often seem like a daunting task, but many Laois & Offaly individuals and families can enjoy a variety of tax breaks that they may not have known were eligible.

“People can request reimbursement of healthcare expenses that you or a family member may be entitled to. A 20% tax refund can be claimed on health and medical expenses, as well as non-routine dental expenses.

“You can also claim back 20% tax on the cost of private health insurance. Medical expenses can be claimed easily by using the myAccount feature on the Revenue website and making sure you keep the receipts for what you claim, “he advised.

“PAYE employees can claim e-working expenses that were incurred in the last year. In 2021, the allowable costs were 10% for electricity and heat and 30% for broadband.

“In line with government policy to facilitate and support remote work, however, Finance Minister Paschal Donohoe announced on Budget Day that taxpayers can claim from the first home office. The employee must have paid the cost and it is the employee’s responsibility to keep evidence such as receipts.

Revenue advises that the easiest way for constituency taxpayers to claim their e-working expenses and other tax credit claims is to use the myAccount feature on the Revenue website.

“In addition, the government recently approved the establishment of the Electricity Cost Emergency Relief Program, which pays a payment of € 100 to every domestic electricity customer.

“This is one of several measures to mitigate the impact on households of the unprecedented rise in electricity prices. The scheme is currently being finalized but will be automatic and will apply to all customers.

“A tax reduction of 20% can also be claimed on tuition fees of the third level as well as on housing tax reductions for apartment renovations and renting a room.

“The beginning of the year is a good opportunity for people to settle their financial affairs and also to browse through whether they can secure better offers by switching providers for various services.

In conclusion, MEP Flanagan said: “It is definitely worth sitting down and taking the time to claim certain expenses as this can result in hundreds of euros in your pocket.”

Released:
Mon 10 Jan. 2022, 12:57 pm

Last updated:
Mon 10 Jan. 2022, 7:56 p.m.

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