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Carers Benefit & Tax Credits

  • 23-05-2016 8:55am
    #1
    Loppis
    Registered Users, Registered Users 2 Posts: 4 ✭


    If a person is receiving Carers Benefit can they give their tax credits to their spouse or would it be worth it? Is Carers Benefit taxable? Waiting to be hopefully approved.


Comments

  • #2
    mp22
    Moderators, Business & Finance Moderators, Regional South Moderators Posts: 6,854 Mod ✭✭✭✭mp22


    Tax implications

    This is a taxable source of income and should be advised to your local tax office.


    From here http://www.citizensinformation.ie/en/social_welfare/social_welfare_payments/carers/carers_benefit.html
    A thread in the taxation forum might help.http://www.boards.ie/vbulletin/forumdisplay.php?f=1208


  • #3
    Loppis
    Registered Users, Registered Users 2 Posts: 4 ✭Loppis


    Thanks. I have enough credits already for the old age pension! Would it be worth my while though letting my spouse have my credits?


  • #4
    wokingvoter
    Closed Accounts Posts: 828 ✭✭✭wokingvoter


    Loppis wrote: »
    Thanks. I have enough credits already for the old age pension! Would it be worth my while though letting my spouse have my credits?

    You are confusing PRSI credits which your State Pension entitlement is dependent on, and TAX credits which are relevant in determining how much of our income we pay to the State in taxes.
    These have no relationship to one another.
    If your not using your PAYE tax credits at the moment then you can transfer them to your husband if you like . Does he work in a PAYE position ?


  • #5
    Loppis
    Registered Users, Registered Users 2 Posts: 4 ✭Loppis


    wokingvoter wrote: »
    You are confusing PRSI credits which your State Pension entitlement is dependent on, and TAX credits which are relevant in determining how much of our income we pay to the State in taxes.
    These have no relationship to one another.
    If your not using your PAYE tax credits at the moment then you can transfer them to your husband if you like . Does he work in a PAYE position ?

    Sorry, my mistake! Yes, my husband pays PAYE. Is it worth it though if I have to pay tax on the Carers Benefit?


  • #6
    wokingvoter
    Closed Accounts Posts: 828 ✭✭✭wokingvoter


    Loppis wrote: »
    Sorry, my mistake! Yes, my husband pays PAYE. Is it worth it though if I have to pay tax on the Carers Benefit?

    I'm sorry I'm not following you. Are you asking me if its worth transferring tax credits or if it's worth going ahead with the Carers benefit ?
    The extra tax you owe ( if you owe any) will be taken directly from your husbands wages, not from your Carers benefit.
    The advice is to just contact your tax office if you get the Carers and let them know that you will be in receipt.


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