D.i.r.t.

I just want to get this straight as I haven't had to deal with D.I.R.T. previously.

If you pay D.I.R.T. on a deposit account (e.g. An Post) does that settle your entire income tax liability for interest earned ?

Is it any different if you are on the higher tax rate ?

DirectDevil said:

If you pay D.I.R.T. on a deposit account (e.g. An Post) does that settle your entire income tax liability for interest earned ?

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Yes.

DirectDevil said:

Is it any different if you are on the higher tax rate ?

Click to expand...

No.

Depending on how much interest you earn per year, you may be liable to PRSI and health levy. Do a search for DIRT on this site and you'll find some discussion. As far as I remember, there was no clear answer to how much the annual interest earned had to be, before you have to pay PRSI and the health levy, but I have a figure of about €3300 in my head.
A call to the tax office may get a diffinitive answer.