Ros- Med 1

[gotsomenow]

Hello,

Hoping someone can help. I finally got access to ROS today and I wanted to file a MED 1 claim.

I went to Tax Credits & Incomes
Clicked on Claim Tax Credits or Refunds (MED 1)
Changed it to 2006
Clicked Health Expenses>Add
Filled in the amount 8050Euro in the 'Other Medical expenses' Box
Excess of 125Euro
Clicked Calculate and got the figure
It then said Gross relief due 7925Euro
I clicked finish
Then 'Next'
and 'Next' again


I've gotten to Submit Pin now which means it will be sent to the Revenue, but for some reason I'm terrified of it...lol I surely won't get a refund of 7925? Is it a portion of that? Thats pratically the full amount it cost me?

I'd love some help before I press pin and submit :-S

Thanks

G

 

[webtax]

you will get relief at your higher rate of tax - 20% or 41% of your gross relief

 

[Graham_07]

Depending on your marginal reate of tax you'll get €7,925 x the rate of tax. If you have more than €7,925 of income taxable at 42% in 2006 then the relief is €7,925 x 42% = €3,328.50. If you were entirely on 20% in 2006 then relief is €7,925 x 20% = €1,585. If you have less than €7,925 taxable at 42% but some at 42% then the relief is apportioned, whatever is needed to cover the 42% income then the rest at 20%

 

[gotsomenow]

Thanks for that. I was 42%. I wasn't even expecting that much. I'm delighted.