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Tax relief on fees - what does this mean?

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  • 20-03-2014 2:35pm
    #1
    thesiren
    Registered Users Posts: 92 ✭✭


    Hi everyone,

    I know there are a few threads regarding tax relief & student fees, but I am totally dense on what tax relief actually means so I was hoping that some kind person could give me an answer! :)

    I am originally from the UK, moved to Dublin for work 3 years ago and am looking to study a part-time MSc with TCD. Fees are €7000 per year, I can't afford that as I earn €17,000 after tax and have huge rent bills etc. From looking on revenue.ie I seem to qualify for tax relief. BUT I don't know whether this means I just pay less tax per year? Or does it mean I don't have to pay the full €7000 fees per year? Or does it mean something else? I did try phoning the tax office but was put on hold for about 20 mins each time.

    Sorry again for what is probably a stupid question, but being so used to UK education it is a bit confusing!


Comments

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    #2
    nicearbhaill
    Closed Accounts Posts: 169 ✭✭nicearbhaill


    see this link from the revenue website http://www.revenue.ie/en/tax/it/leaflets/it31.html

    It has the info


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    #3
    jubella
    Closed Accounts Posts: 1,528 ✭✭✭jubella


    As far as I know, you have to pay the fees yourself. Tax relief means you either pay less tax to the tune of €1,400 (20% of €7,000), or get this €1,400 back if you're claiming it the following year (provided you have paid this much tax in the first place - you can't claim relief on tax you haven't paid).


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    #4
    Annasopra
    Registered Users Posts: 40,814 ✭✭✭✭Annasopra


    If someone else pays the fees for you they can claim the tax relief

    It was so much easier to blame it on Them. It was bleakly depressing to think that They were Us. If it was Them, then nothing was anyone's fault. If it was us, what did that make Me? After all, I'm one of Us. I must be. I've certainly never thought of myself as one of Them. No one ever thinks of themselves as one of Them. We're always one of Us. It's Them that do the bad things.

    Terry Pratchet



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    #5
    Annasopra
    Registered Users Posts: 40,814 ✭✭✭✭Annasopra


    When you pay the 7000 fee you then send in the forms and then the taxback is refunded through your wages. Thays how it works.

    It was so much easier to blame it on Them. It was bleakly depressing to think that They were Us. If it was Them, then nothing was anyone's fault. If it was us, what did that make Me? After all, I'm one of Us. I must be. I've certainly never thought of myself as one of Them. No one ever thinks of themselves as one of Them. We're always one of Us. It's Them that do the bad things.

    Terry Pratchet



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