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Rent Relief Question

  • 26-08-2011 12:32pm
    #1
    MuddyDog
    Registered Users, Registered Users 2 Posts: 1,880 ✭✭✭


    I just applied using PAYE anytime for rent relief for the year 2010. Now, I was only in employment for 5 months in 2010 and it said after I put in the amount of rent paid during the year that I'm allowed 2000 euro relief. I've been employed all of 2011 so far apart from the month of February. How will this effect my future pay cheques or will I just get a random refund to my bank account sometime this year? I don't think I actually paid any tax in 2010 though, just USC and PRSI.


Comments

  • #2
    Mr Johnson
    Registered Users, Registered Users 2 Posts: 44 ✭Mr Johnson


    If you didn't pay any PAYE in 2000 then I don't see how you can get a tax rebate for rent relief ? And the rent relief is paid at marginal rate so it's
    €2000 x 20% = €400.


  • #3
    MuddyDog
    Registered Users, Registered Users 2 Posts: 1,880 ✭✭✭MuddyDog


    Mr Johnson wrote: »
    If you didn't pay any PAYE in 2000 then I don't see how you can get a tax rebate for rent relief ? And the rent relief is paid at marginal rate so it's
    €2000 x 20% = €400.

    Yeah I wasn't sure how it would work if I didn't pay any PAYE. I thought I'd apply anyway just in case I got an extra few euro from somewhere. So when I apply for the year 2011 for my rent relief, will the 400 euro be refunded to my account at the end of the year after all my PAYE has been calculated?


  • #4
    Mr Johnson
    Registered Users, Registered Users 2 Posts: 44 ✭Mr Johnson


    No, it's a tax credit, so it will be deducted from your tax every time you get paid. And more bad news - it was reduced to €1,600 for 2011, so it's now worth €320 per year or €26.67 per month.


  • #5
    MuddyDog
    Registered Users, Registered Users 2 Posts: 1,880 ✭✭✭MuddyDog


    Mr Johnson wrote: »
    No, it's a tax credit, so it will be deducted from your tax every time you get paid. And more bad news - it was reduced to €1,600 for 2011, so it's now worth €320 per year or €26.67 per month.

    Ah, ok, thanks for that. One last thing. Can I enter my details for 2011 now or do I have to wait till January 2012?


  • #6
    Mr Johnson
    Registered Users, Registered Users 2 Posts: 44 ✭Mr Johnson


    You can put it in now and it'll be credited against your tax. Or you could wait until January, then you would get it as a rebate, all in one lump sum.


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  • #7
    MuddyDog
    Registered Users, Registered Users 2 Posts: 1,880 ✭✭✭MuddyDog


    Mr Johnson wrote: »
    You can put it in now and it'll be credited against your tax. Or you could wait until January, then you would get it as a rebate, all in one lump sum.

    Last question I promise, if I put in the details now, can I stick in the total of the rent that I am going to pay for the year even though I will not have paid a few months of it yet?


  • #8
    barneystinson
    Registered Users, Registered Users 2 Posts: 4,685 ✭✭✭barneystinson


    MuddyDog wrote: »
    Last question I promise, if I put in the details now, can I stick in the total of the rent that I am going to pay for the year even though I will not have paid a few months of it yet?

    Well it doesn't matter really since I'd imagine you'll have paid more than the 1,600 max already..?

    And if you do make your claim for 2011 now what should happen is you'll get a refund of about a couple of hundred included with your wages initially, and then you'll pay about a €6 a week less in tax for the rest of the year. (All of this assumes you are actually paying tax, as distinct from USC/PRSI).


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