Louth Fine Gael senator John McGahon has encouraged people in Louth to avail of tax reliefs on expenses including medical bills and working from home.
Senator McGahon said:
“Managing your finances can often seem like a daunting task, but many individuals and families in Louth can avail of a number of tax breaks they may not have known they were entitled to.
“People can claim relief on the cost of health expenses, which can be yours or those of a family member.
“20% tax back can be claimed on health and medical expenses and non-routine dental expenses.
“You can also claim 20% tax back on the cost of private medical insurance.
“Medical expenses can be claimed easily by using the myAccount facility on the Revenue website and ensuring you keep the receipts for what you are claiming.
“PAYE workers can claim e-working expenses incurred across last year.
“In 2021, the allowable cost was 10% of electricity and heat and 30% of broadband.
“However, in line with Government policy to facilitate and support remote working, Finance Minister Paschal Donohoe announced on Budget Day that, from January 1st, an income tax deduction amounting to 30% of the cost of vouched expenses for heat, electricity and internet incurred while working from home can be claimed by taxpayers.
“The employee must have incurred the cost and it is the responsibility of the employee to retain proof such as receipts.
“Also, the Government recently approved the establishment of the Electricity Costs Emergency Benefit Scheme under which a payment of €100 will be made to each domestic electricity customer.
“This is one of a range of measures to mitigate the effects of the unprecedented rise in electricity prices on householders.
“The scheme is currently being finalised, but it will be automatic and will apply to all customers.
“Tax relief of 20% can also be claimed on third level tuition fees, as well as housing tax reliefs for home renovations and renting a room.
“The start of the year is a good opportunity for people to organise their financial affairs and also to shop around to see if they can secure better offers by switching providers on a range of services.
“It’s definitely worth sitting down and taking the time to claim for certain expenses as it can result in hundreds of euro back in your pocket,” Senator McGahon concluded.
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