The cost of living crisis that is ravaging the savings of the Irish public shows no sign of slowing down and the Government is being urged to help out struggling families across the island in the Budget later this month.
A rise in the minimum wage is the latest expected concession from Finance Minister Paschal Donohoe.
But few people know they could be missing out on claiming an extra €500 from Revenue. It all comes down to what you work as - and whether you're working from home or commuting.
READ MORE: Minimum wage reportedly set to rise as Government to sign off on change for 2023
Any added boost is a very welcome one - and there are hundreds of jobs that could be claiming flat rate expenses back from Revenue.
What are flat rate expenses?
Flat-rate expenses are those that cover the cost of equipment your employee needs for work. This equipment may include tools, uniforms and stationery.
Your employee must incur these costs in performing the duties of their employment, and the costs must be directly related to the nature of their employment. Flat-rate expenses are available to a wide range of professions.
What jobs can claim flat rate expenses?
The full list is available on the Revenue's website here, but some of the professions include:
- Teachers
- Nurses
- Archaeologists
- Bus drivers
- Driving instructors
- Physiotherapists
How can I claim flat rate expenses?
The amount of the deduction is agreed between Revenue and representatives of groups or classes of employees (usually trade union officials). All employees of the class or group in question can then claim the agreed deduction in their own tax credits.
Flat rate expenses can be claimed by completing an Income Tax return. You can find this form in PAYE Services in myAccount. You can do this by following these steps:
- sign into myAccount
- click on ‘Review your tax’ link in PAYE Services
- select the Income Tax return for the relevant tax year
- in the ‘Tax Credits & Reliefs’ page select ‘Flat rate expenses’ and add it as a tax credit.
READ NEXT:
Family of missing Irishman Frank McCaughey issue renewed appeal after sighting in Germany
'Very upset' Ryan Tubridy visits house where three siblings were killed in Tallaght
Experts say common washing machine mistake is costing you money
Irish pub says anyone 'celebrating' Queen's death will be 'banned for life'
Get breaking news to your inbox by signing up to our newsletter
