Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie
Hi there,
There is an issue with role permissions that is being worked on at the moment.
If you are having trouble with access or permissions on regional forums please post here to get access: https://www.boards.ie/discussion/2058365403/you-do-not-have-permission-for-that#latest

Offset Tax Credits against a CAT Tax liability?

  • 05-11-2013 11:56am
    #1
    banie01
    Registered Users, Registered Users 2 Posts: 17,282 ✭✭✭✭


    Folks,
    Just pondering something here that based on my previous knowledge of dealing with the Revenue Commissioners is probably a non runner but I'm curious.

    Is it possible to offset one's current and future Tax credits, against an existing Tax liability?
    I have a section 51 CAT deferral for my home, and while I have no plans on selling it I do not want to pass my debt on with my estate.
    So I'm wondering if it is possible to offset unused Tax credits against this liability? e.g if one has Personal tax credits and Single Parent credit(Was not able to avail of widow benefits and tax breaks) and is working part time with a substantial portion of their Tax Credits unutilised, is it possible to offset the unused credit against the liability?

    I know its an odd query, but I'm sure someone here knows the answer.


Comments

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


    You can only use income tax credits against income tax in the same year.

    They can be carried forward, back or set against other taxes.


Advertisement