Income exemption for persons over 65

Income Exemption for person’s over 65

You are exempt from income tax if you are aged 65 or over and your income is below the exemption limit of €18,000 in case of an individual and €36,000 in case of a married couple, one of whom it aged 65 years old  or over

If you have one or more qualifying children the exemption limit is increased for €575 for first and second child and  €830 for the third child

A qualifying child is one that:

1. was born during the year
2. is under 18 years of age at the start of the year
3. is aged over 18 but attends college full-time or trains for a trade or profession for a maximum of two years
4. became incapacitated before they turned 21
5. became incapacitated after turning 21, but attends college full-time, or trains for a trade or profession for a maximum of two years.

Any queries on above give me a call on 091 763817 or email me at oliver@taxreturnhelp.ie