The way I see it is, that to get returned the €665 over the next five months, each week I would have pay ~€30 less in tax, and instead this money would have to go to me, which is theoretically possible because there is room for this in my weekly wage (I pay €43 in income tax and would have to pay €30 less out of this, ie €13 every week). But this would mean each week I would be paying €44 in tax out of my entire €576 wage, is that even possible? It feels illegal to be paying such little tax!
In fact this was the entire point of the thread, I thought that if I just try to claim the lump sum at the end of the year, I would be given it whether I work or not? I already paid the €665 in tax and I am entitled to it back regardless, this is how I understand it?
People must pay income tax, in order to get tax relief.
My in-laws don't pay income tax, but they do have medical bills. They can't claim tax relief on medical bills, as they don't pay any income tax in the first place.
How can you get tax back, if you haven't paid any?
You are being very vague and I do not understand.Why not go ahead and claim now?
I can't see any harm in doing that.
All above is correct.My understanding is that there is 2 ways I can get the money back
1. Tax relief
2. Real time credit claim
Now, I have to make some educated guesses because unfortunately Revenue are not transparent about their process and calculations and a lot of information is being hidden from me.
I think if I go with option 1, then I will get the money back as a lump sum at the end of this year. If I go with option 2, I will get the money continuously in small chunks continuously, and I will have eventually received the entire amount before the year ends.
Could you confirm this for me?
Neither of these options allow me to claim the money back "now" as you say, I still must wait until the end of the year. Although option 2 is quicker, because I would get some of the money back next week, and some the week after, etc, and let's say roughly I would have half the amount returned to me in a few months, instead of waiting until the year end to receive anything at all.
I am wondering if it is possible I will lose money if I go with option 2 instead of option 1? I am concerned that with option 2, there is not enough time (ie tax I am yet to pay) left in this year and I might miss out on some of the claim. Again Revenue are not bejng honest about their calcuations.
Many many thanks
Ok, now I understand a lot more and I also understand why you were using my entire annual wage in the calculation earlier.
I want to talk a bit more about this, not because I am trying to argue with you, but because I am interested in justiyfing the mental gymnastics that Revenue are doing.
In the overview it is stated that the whole scheme allows me to claim some of the money back that I spent on medical treatment. I paid for the service, that includes the VAT fee (which the seller pays technically, but really I bear the cost of this because they just put the price up. Also if there was no VAT being paid I am sure I would be entitled to nothing back, because where would it come from?). So that's the payment, I paid for that service and there is tax on that. So that is why I should get money back - to make life easier for those who have health issues. Also, it is not stated that I am getting tax back. They say I am getting money back as relief on Health Expenses. There is no mention of being required to work on that overview page on Revenue.
Obviously if you skip a few pages and read how to claim the money back, it says that the way to do so is to add tax credits. So obviously you must be working to claim it back, that is the reality and now I understand this part.
You are being very vague and I do not understand.
My understanding is that there is 2 ways I can get the money back
1. Tax relief
2. Real time credit claim
Now, I have to make some educated guesses because unfortunately Revenue are not transparent about their process and calculations and a lot of information is being hidden from me.
I think if I go with option 1, then I will get the money back as a lump sum at the end of this year. If I go with option 2, I will get the money continuously in small chunks continuously, and I will have eventually received the entire amount before the year ends.
Could you confirm this for me?
Neither of these options allow me to claim the money back "now" as you say, I still must wait until the end of the year. Although option 2 is quicker, because I would get some of the money back next week, and some the week after, etc, and let's say roughly I would have half the amount returned to me in a few months, instead of waiting until the year end to receive anything at all.
I am wondering if it is possible I will lose money if I go with option 2 instead of option 1? I am concerned that with option 2, there is not enough time (ie tax I am yet to pay) left in this year and I might miss out on some of the claim. Again Revenue are not bejng honest about their calcuations.
Many many thanks
Revenue are not transparent about their process and calculations and a lot of information is being hidden from me.
Revenue are not bejng honest about their calcuations.
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