Originally Posted by danball
Wow! That could knock about three grand off the fees! Thanks GradMed and Abby19
I'm looking at the form now. There's 'name of claimant', 'name of student' and 'name of person who paid the fees'. So, whose name goes in that last box? And can you still do this if your fees are paid directly by the bank?
Check the info from the revenue website and the citizen's advice bureau website (similar wording). If you read them they are ambiguous as to what can be claimed and by whom.
I know when I looked through it I rang my revenue office, explained my situation and asked if I paid €5k, and someone else paid the remainder, could that someone else claim tax relief also. I was told yes. And yes I did get tax back.
Whoever is claiming tax relief on your behalf may need to have a receipt to present to revenue. So they should get bank drafts/deposit slips showing they have paid the fees to support their claim. If the bank is paying fees directly, then I am not sure how this would work.
Originally Posted by Tazzle
I'm with AIB and only went with them if they allowed me to pay my own fees. (so I could claim tax back) Wasn't a problem at all. BOI were having none of it when I approached them. AIB were really flexible, it's very unfortunate for new entrants that they are no longer an option.
Tazzle managed to get the money from the bank and paid the college directly. If this can save you ~€2-3k in tax, I don't see why you cannot justify this to your bank.
It may even be possible to overpay the college in fees and get a refund if the bank won't oblige (but check with the college what are the overpayment policies, might be an idea not to mention it is just to claim tax back straight off).
This has changed slightly as the limit is now €7k.
'For the tax year 2007 and subsequent years, an individual can claim tax relief on fees paid for Third Level courses in respect of any individual as long as he or she has paid the qualifying fees.'
So if you divide up your fees and different people pay varying proportions, then why shouldn't they each be able to claim on their portion. I interpreted it as the limit was to do with the person paying the fees. There wasn't a limit in respect of for whom the fees were paid. This was the basis of my discussion with the revenue. It was over a phone call and not a written response.
Anybody claiming has to be earning enough money to be paying tax to claim it back though. So while it may make sense to claim for yourself in 1st year, chances are in subsequent years you may not earn enough over the summer to have paid enough tax to actually claim it back.