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65 years old

  • 29-10-2009 5:23pm
    #1
    irishpaddy
    Registered Users, Registered Users 2 Posts: 65 ✭✭


    i was told that when you reach your 65th birthday you stop having to pay dirt tax. is this just a rumor just to make you see the bright side of getting older,or is it true. hopefully true.:confused:


Comments

  • #2
    TaxingTimes
    Registered Users, Registered Users 2 Posts: 145 ✭✭TaxingTimes


    This depends on your income level.
    If under the limit you can get the bank to pay gross without deduction of DIRT


  • #3
    .BrianJM
    Subscribers Posts: 2,670 ✭✭✭.BrianJM


    Get form DE1 from tax office and send completed form to your bank. One form for each account.


  • #4
    irishpaddy
    Registered Users, Registered Users 2 Posts: 65 ✭✭irishpaddy


    TaxingTimes wrote: »
    This depends on your income level.
    If under the limit you can get the bank to pay gross without deduction of DIRT

    how are you, can you tell me what income you have to be on without paying dirt once you get to 65.


  • #5
    clevtrev
    Registered Users, Registered Users 2 Posts: 633 ✭✭✭clevtrev


    40k for a married couple or 20k for individual inclusive of any deposit interest less any pension contributions


  • #6
    .BrianJM
    Subscribers Posts: 2,670 ✭✭✭.BrianJM


    Form DE1 can be ordered by email from:

    custform@revenue.ie

    Give your name, address, form no. & how many required.
    They come with a leaflet explaining (briefly) how it works.


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  • #7
    irishpaddy
    Registered Users, Registered Users 2 Posts: 65 ✭✭irishpaddy


    clevtrev wrote: »
    40k for a married couple or 20k for individual inclusive of any deposit interest less any pension contributions

    wow if we were on 40k i would not mind so much paying dirt. what does dirt stand for anyone know. and thanks for the good news.


  • #8
    Alan Shore
    Registered Users, Registered Users 2 Posts: 735 ✭✭✭Alan Shore


    Deposit Interest Retention Tax. Its not a tax in itself its just that Interest that is subject to DIRT is taxed at the same rate of 25%.


  • #9
    irishpaddy
    Registered Users, Registered Users 2 Posts: 65 ✭✭irishpaddy


    Alan Shore wrote: »
    Deposit Interest Retention Tax. Its not a tax in itself its just that Interest that is subject to DIRT is taxed at the same rate of 25%.

    thank you my good man, i have been talking about this dirt thing for years and never new what it was, just knew it made me that little bit poorer.


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