I am referring to people with unearned income.
Many people don't in fact pay class K on their unearned income.
These people do in fact get benefits from the prsi charged on their unearned income.
Unearned Income, Form 11 or 12?
- Thread starter nest egg
- Start date
Many people don't in fact pay class K on their unearned income.
These people do in fact get benefits from the prsi charged on their unearned income.
"Unearned income"
Can I ask what is DIRT considered?
I remember last year, revenue initially added the EU interest earned as "income" on the end of year Statement, but later they had to change this as was considered incorrect.
Interest from Raisin, Trade Republic, etc. is a type of unearned income and is entered on Form 12 under EU Deposit Interest (excluding UK interest).
On the paper Form 11 it's line 305.
Last edited:
Thank you @Corola
Ok. So I will complete Form 12, until the registration for Form 11 is accepted by revenue.
Ok... so money that is required to pay DIRT (form 12) or DIRT & PRSI (form 11) is categories under "unearned income" and "foreign income", but Revenue has now added extra ingredients for more specific categorisation in Form 12 (EU deposit interest, excluding UK).
Form 11 has always had this option within Revenue, so didn't have issues in 2023/2024.
Thank you so much.
I get it now.
That's right, it's unearned income because it's not from your employment, that's why you need to declare it separately.
Then it's under the heading of foreign income because it's from outside of Ireland.
And specifically it's EU deposit interest because it's from a bank/neo-bank in the EU (excluding UK & Ireland).
Last edited:
Given the 2024 return isn't due until Oct/Nov of this year, why go to the trouble of completing your tax return twice, why not await the Form 11 registration?
Ok.. perfect. Will do. That is good advice.