65 this year

T

tommyboy

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I'll be 65 later this year, if I survive. Do I get the higher tax free allowances i.e. "65 and over" from January last or only from the actual date of my birthday. Do I have to make a special application. I am already retired
 
tommyboy said:
I'll be 65 later this year, if I survive. Do I get the higher tax free allowances i.e. "65 and over" from January last or only from the actual date of my birthday. Do I have to make a special application. I am already retired
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You will get it for the whole year.

You're retired, so if you have PAYE pension you should call Revenue at 1890 333425 (Dublin) in the morning. PAYE helpline don't answer phone in afternoon.

Give them your date of birth and they should be able to amend your cert.

If you are self-assessed your accountant will incorporate this fact into your computation next yr.
 
I thought that what happenened the Over '65's was that they had an income level (34K?) below which they suffered no tax, if they earned more than that, then they paid tax as normal, allbeit with an additional 500 of tax credit (half both figures above for single persons). How then do the revenue sort this out for those in receipt of pensions? Does the pensioner have to file a return to reclaim tax paid? In addition, if the system works as I think, incomes from 34001 to roughly 43000 would be better off staying below 34K, or have they done the sensible thing and tapered the relief?
 
There is what is known as Marginal relief. This [broken link removed]may help explain.
 
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