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Med 1 or form 12 which one to use??

  • 16-02-2015 09:26PM
    #1
    redcard
    Registered Users, Registered Users 2 Posts: 80 ✭✭


    hi,
    im a paye worker but I also have a rental property that I submit tax return online for each year. now I had quite a significant medical bill in 2014 and I want to submit a med 1 form now, is this going to be an issue as I don't want to do my rental tax return for 2014 till the deadline in October? or are they totally separate departments? its just that on the med 1 form you have to state if you have any other income from sources not subject to paye, I do but if I put that on the form will they want to collect my rental income tax now?

    thanks:)


Comments

  • #2
    relax carry on
    Registered Users, Registered Users 2 Posts: 4,153 ✭✭✭relax carry on


    redcard wrote: »
    hi,
    im a paye worker but I also have a rental property that I submit tax return online for each year. now I had quite a significant medical bill in 2014 and I want to submit a med 1 form now, is this going to be an issue as I don't want to do my rental tax return for 2014 till the deadline in October? or are they totally separate departments? its just that on the med 1 form you have to state if you have any other income from sources not subject to paye, I do but if I put that on the form will they want to collect my rental income tax now?

    thanks:)

    If you file an income tax return each year you will have to file it and include your medical expenses in it. You do not have to wait until the deadline to file your return.


  • #3
    redcard
    Registered Users, Registered Users 2 Posts: 80 ✭✭redcard


    Thanks, I was hopeing to claim back the med expence now and not pay my rental tax till October as I need money now for something else. Revenue will still get what they are owed but it gives me more flexibility. But your saying this is not possable?


  • #4
    relax carry on
    Registered Users, Registered Users 2 Posts: 4,153 ✭✭✭relax carry on


    redcard wrote: »
    Thanks, I was hopeing to claim back the med expence now and not pay my rental tax till October as I need money now for something else. Revenue will still get what they are owed but it gives me more flexibility. But your saying this is not possable?

    Its not possible as you are not providing Revenue with all the information they require. If your medical expenses are that large then the refund you are expecting will be offset against any other liability you have.


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