Tax relief for supporting parents ?

TAX RELIEF FOR SUPPORTING PARENTS ?

You may claim this credit if you maintain a relative at your own expense. You can claim for your relative, or a relative of your spouse or civil partner.

Maintaining a relative at your own expense means meeting the costs of everyday living. You must substantially maintain your relative where they cannot maintain themselves.

There is no requirement for the relative to live in Ireland to qualify for this credit

If you are claiming for a relative who resides outside of Ireland you must be able to prove that you substantially maintain this relative. You should also be able to prove that the relative is incapacitated by old age or infirmity from maintaining themselves in relevant cases.

You can receive a tax credit of €245 with effect from 1 January 2021 (€70 for previous years).

You will not receive a tax credit if your dependent relative’s income exceeds €16,780 with effect from 1 January 2023 (€16,156 for 2022).

All of your dependent relative’s income is included for the income limit purposes. This includes their social welfare payments, pensions and deposit interest.

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