Grant: Parents reckonable income?

magma69

I'm living at home and am looking into the possibility of getting a grant. Thing is, I don't understand the definition of the term "reckonable income". Would this mean the income after deductions (tax, p.r.s.i) or is it before deductions?

snappieT

Looks like it's before deductions, I'm afraid:

Reckonable Income is income from any of the following sources:

• Gross Income from employment
• Gross Income from a trade or profession
• Interest, annuities and income from foreign property such as investments
• Rent from any premises in Ireland
• Income from which tax has been deducted at source such as annuities, bank interest, building society interest, maintenance payments and other miscellaneous sources of income not included in the above
• Income from dividends and other distributions received from Irish resident companies

Certain income not subject to PAYE, reduced by the amount of any allowable superannuation contributions paid. Examples of people with this type of income are certain company directors and motor-cycle couriers
The following Social Welfare and HSE payments are excluded in the calculation of reckonable income: Child Benefit; Family Income Supplement; Disability Allowance (where paid to the candidate); Blind Pension (where paid to the candidate); One Parent Family Payment (Means-tested) (where paid to the candidate); Guardian's Payment (previously known as Orphan's Pension); Foster Care Allowance; Domiciliary Care Allowance; Carer's Allowance.