We could all use some extra money in our bank account right now.
And this is especially true for students.
But the good news is that your tax refund can go a long way to covering textbooks, rent and other college costs.
Many students believe they’re not entitled to claim anything and, as a result, leave their money with the taxman!
Don’t let this happen to you!
In this handy guide, we’re going to take a look at some of the common tax reliefs students can claim.
We will also show you how to claim your tax back easily online.
The average Irish tax refund is €1,880. And, if you have never applied for your refund before, you can go back four years to claim what you’re owed.
Common tax reliefs students can claim
1) Tuition Fees
If you pay tuition fees for college or a training course it can be possible to claim back some of this as tax relief.
Also, if another person, such as a parent or loved one, pays the fees on your behalf, tax relief can still be claimed.
The maximum amount that is possible to claim on third level fees is €7,000 per course, per person and per academic year.
Tax relief is granted at the standard rate of 20%. There is no tax relief on the first €3,000 spent on tuition fees for full time courses or €1,500 for part-time courses.
Taxback can help you to claim your maximum tuition fee tax refund.
2) Flat rate expenses
Depending on the type of job you have worked in, you may be entitled to claim a flat rate expense.
This is a tax relief that is designed to cover the cost of the tools, uniforms, stationery or equipment you need for work.
There are a wide range of tax reliefs available, depending on the type of job you work in.
For instance, bar trade employees can claim €93 each year and retail staff are due €121.
Need a hand claiming your flat rate expenses? Contact our team today!
3) Emergency Tax
Worked while in college either part-time evening work or during the summer semester break? It’s possible you paid too much tax.
You will pay Emergency Tax if you haven't provided your PPS number to the employer or your employment hasn’t been registered with Revenue.
If you have not provided your PPS you will pay a much higher tax rate than you would normally expect to pay. You’ll be taxed 40% income tax and 8% USC.
This can often happen when you start working, if you switched jobs or if you have worked in a number of jobs during the same year. .
Plus, if you’re only working during the summer semester break, you might have been taxed as if you were earning that pay throughout the whole year. If this is the case, you may have been overcharged more than you should.
Our Irish tax team will conduct a complete four year tax review and help you claim your overpaid tax back!
The average Irish tax refund is €1,880
4) Health Expenses
If you have attended the doctor or dentist in the last four years, the good news is that you can claim tax relief on a significant portion of the costs.
In fact, you can claim as much as 20% back on a range of medical expenses including:
- GP and consultant bills
- Non-routine dental expenses
- And much more
You can claim tax relief on your medical expenses here.
5) Rent Tax Credit
Renting in Ireland? You may be able to claim money back on the rent you paid using the Rent Tax Credit.
Previously, the credit was €500 for a single person and €1,000 for couples in 2022 and 2023. The credit will increase to €750 for a single person and €1,500 for couples in 2024 and 2025.
Note that the Rent Tax Credit will be available for the ‘rent-a-room’ or “digs” arrangements for either parents or students who are paying for the accommodation. This concession can be backdated to 2022.
How to claim your tax back easily online!
In truth, the reliefs mentioned above are simply the tip of the iceberg. A wide range of credits and deductions can be claimed, depending on your circumstances.
The average tax refund in Ireland a Taxback customer receives is €1,880.
There is nothing to lose by checking what you’re owed.
In fact, when you apply with Taxback you won’t pay a penny if you’re not due a refund. No refund, no fee!
Our team of tax experts will conduct a full review of your tax profile and guarantee that you are availing of every tax relief you are entitled to - maximizing your refund.
Why apply with Taxback:
- Easy online process – we handle all the tricky tax paperwork
- You'll avail of every credit or relief you're entitled to
- We will maximise your tax refund or minimise your liability
- 24/7 Live Chat tax support
The average Irish tax refund is €1,880