You may have seen accounts on Instagram or TikTok offering a rebate service and claiming to get their clients back hundreds of euros – in exchange for a small fee.
The legitimacy of these sites is debatable, and claiming your tax back is actually easier than you would think.
So here at SIN, we have made a quick guide to tax rebates, no Instagram companies needed.
The Basics
A tax rebate is a refund on any tax overpayments you may have made during the year.
To claim your tax back, you will need a GovID, which you can make easily. Once you have a GovID, you can claim your tax back through the Revenue website.
In Ireland, you can claim tax back for up to four years.
Accommodation
This year the government has continued with the renter’s relief tax credit. If you have been paying rent this academic year you may be entitled to it.
The amount of the credit is 20% of your total rent payments in the year, up to a maximum of €1,000.
This renter’s credit is claimed back against income tax you have already paid.
If you have paid less than €5,000 in rent this year, you will not receive the full €1,000 credit.
Your tenancy must be registered with the Residential Tenancies Board (RTB). If you are sharing with the owner, in a rent-a-room or in a digs arrangement, the tenancy does not have to be registered to claim the tax credit.
The Revenue website will ask you to provide an RTB number if relevant. You can ask your landlord for this.
Medical
You can claim income tax credits on some healthcare expenses. You can claim tax relief on:
● Doctor and consultant fees
● Treatment in a hospital.
● Specialised dental treatment.
● Speech and language therapies, if your course is full time.
● Educational psychological assessments, if your course is full time.
● Treatment from a psychologist or psychotherapist.
● Prescription medication.
College Fees
In some cases, you may qualify for a tax relief on college fees.
Your undergraduate course must be at least two years long and approved by the Department of Youth and Education.
At postgraduate level, your course must be no longer than four years and you must have a primary undergraduate degree to claim the relief.
If you haven’t paid fees yourself, your parents can claim these tax reliefs. You cannot claim tax on any amount of fees covered by a grant or scholarship.
The maximum amount of fees (including the student contribution) that can qualify for tax relief is €7,000 per person, per course, per academic year.
For full time students, there is no tax relief on the first €3,000 spent on tuition fees each year.
For part-time students, there is no tax relief on the first €1,500 spent on tuition fees for each tax year.
If you are studying in the UK, or EU, you may still qualify for tax reliefs.
