DIRT'd interests need to be declared to the tax office anyway (!)

Hi everyone,

I hope this won't be rerouted to the "taxation" section but I wanted you to be aware as well.

As in 2009 I declared some revenue from abroad as I worked in Australia for a while recently the revenue dept asked me to declare the interest and DIRT I paid in Ireland.

So I'm collecting all the information now for them... So even if DIRT is the only tax we are paying on irish deposits we'd better always declare it.

As I've always been in good faith on this I just wanted to share with you this tip as you could fall like in my case and have to recollect interest certificates for old closed accounts as I'm doing at the moment...

Good point, Interest certificates should always be included with your tax returns, remember Revenue can access all interest paid to account holders anyway as the Banks / other deposit holders are obligated to make a return and the PPS system is effective at this, all income earned on face of this Earth should be returned to Revenue on your annual tax returns.

Thank you Palerider, so what if I give the account numbers to revenue.ie would that help in their checks by offloading this investigation I'm doing at present on my old accounts? Just trying to spare time instead of asking for all the past interest certificates (cost = around 3.5 Eur/certificate at the moment)...

The forms call for the taxpayer to submit interest certificates, this is your signed off declaration, they can cross check if they wish against information submitted by financial institutions through the PPS system although I am not sure how far back this information would be available to them..

Thank you very much Palerider! Thank God I've found lots of kind and helpful people at the banks I used to have accounts at. God bless Irish people's kindness!

who is looking for the information, the Australians?

Perhaps I have got the wrong end of the stick: Why would the revenue in ireland want interest certificates?
Is it because you had dealings in Australia?

I never realised you had to declarer interest received to Revenue - i assumed the DIRT deducted at source was good enough?

No, the revenue office in Ireland. They sent me a questionnaire asking if my salary has been my only source of income.

Hi rev87, interest income has to be declared the same as all other sources of income, the return has a section requesting details of this so just complete it and submit with copy certificates of interest which you should obtain from each financial institution you held deposits at for the relevant tax years.