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Extra Income

  • 10-01-2021 1:58pm
    #1
    Registered Users, Registered Users 2 Posts: 47


    hi,

    I was on invalidity pension during 2020. I also received some income from interest earned on a bank savings account.
    Do I need to declare this extra income to Revenue and is there a form to be completed?

    Many thanks,


Comments

  • Registered Users, Registered Users 2 Posts: 14,199 ✭✭✭✭Geuze


    DIRT is charged on all deposit interest income.

    https://www.revenue.ie/en/additional-incomes/dirt/index.aspx

    The 33% DIRT paid is the end of you liability.


  • Registered Users, Registered Users 2 Posts: 47 Josh2015


    thank you. someone mentioned that I would need to file a form 12?


  • Registered Users, Registered Users 2 Posts: 14,199 ✭✭✭✭Geuze


    Josh2015 wrote: »
    thank you. someone mentioned that I would need to file a form 12?

    If DIRT has been applied to your interest income, then no need to submit a Form 12 tax return.

    You may need to do a tax return for other reasons: e.g. medical expenses, etc.


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