Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Irish Mirror
Irish Mirror
National
Shauna Bannon Ward

Income tax change in Budget 2023 could leave you with €1,000 extra in your wages

Workers could get an extra €1,000 in their annual pay packet under new tax proposal being considered by government as part of Budget 2023.

RSVP reports that the government has been discussing different measures to tackle the cost of living crisis with a middle income tax band and further changes to tax credits lined up.

These changes could benefit 1.8 million workers to the tune of €1,000 extra in their salary.

READ MORE: Irish woman loses an incredible 18 stone after being told by doctor she wouldn't reach 40th birthday

This comes after it was recently revealed that workers are entitled to a tax refund with the average amount around €1,880 per person.

While a tax refund can vary depending on the person, the average amount claimed in recent years has increased by over €700.

Last year, it was found that almost 500,000 have overpaid a total of €300 million in income tax in 2021. Many can be intimidated by the process of claiming back money, however, the process is quite simple.

It’s recommended that people keep copies of their expenses and bills to show proof of their expenditure.

While you don’t need to send these receipts off during the application process, Revenue can audit your tax refunds from the previous six years.

You can claim money back from any of the previous four years, however, the best time to claim a tax refund from the previous year is during January and February.

You start the application process by signing into your myAccount on Revenue.ie, which is found here.

This can be done via the Revenue website login or using your MyGOVID account.

You will need to complete an income tax return after the end of the tax year, 31 December, through your account.

If you have any additional reliefs or credits that you need to add, this can be done when completing the return form.

  • Here is a step-by-step guide on claiming your tax refund:

  • Sign into your Revenue.ie account

  • Choose ‘Review your tax’ which can be found under the PAYE Services label

  • Request a Statement of Liability

  • Choose 'Complete Income Tax Return'

  • Here you can claim your additional expenses, tax credits and other reliefs

  • Click ‘Submit’ when it is complete

READ NEXT:

Get breaking news to your inbox by signing up to our newsletter

Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.