Coll & Co

Marriage separation

Coll & Co Posted on 06/03/2013 by Coll & Co
@galwayindo
Tax consequences of marriage separation Marriage separation is a stressful time. In addition to the family matters involved, one also needs to be aware of the financial and tax consequences. The Revenue website has an excellent detailed summary of the various tax issues, a number of which are highlighted below. Should I notify the tax office if I am separated? Yes! Adjustments to your tax position may be necessary to take account of maintenance payments, one-parent family tax credit, and basis of assessment e.
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  • Coll & Co

    Coll & Co Posted on 20/02/2013 by Rory Coll
    @galwayindo
    If you are in receipt of an old age pension and have other income, such as a private pension, you may be liable to pay tax on your State pension. The Department of Social Protection (DSP) state contributory and non-contributory pensions, formerly the old age pension, along with other types of pension for example widow’s/widower’s pension, are taxable sources of income.
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  • P35 deadline

    Coll & Co Posted on 06/02/2013 by Coll & Co
    @galwayindo
    P35 deadline for 2012 of 15 February is fast approaching The P35 deadline is creeping up fast. The date for returning your annual P35 return in respect of the year ended 31 December 2012 is 15 February 2013.
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  • New Yeat tax tips

    Coll & Co Posted on 09/01/2013 by Rory Coll
    @galwayindo
    Some tax tips to consider regarding your finances as we start the New Year. 1.    If you were made redundant during 2012, you may be due a tax refund If you were made redundant during 2012 and paid tax on your redundancy payment, you should file your top slicing claim as soon as possible in order to obtain a refund of any tax overpaid.
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  • Year-end tax planning tips for 2012

    Coll & Co Posted on 26/12/2012 by Rory Coll
    @galwayindo
    Capital Acquisitions Tax –Utilise your annual tax free gift exemption of €3,000   The rate of Capital Acquisitions Tax on gifts and inheritances has recently increased to 33 per cent.
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  • Year-end tax planning

    Coll & Co Posted on 12/12/2012 by Rory Coll
    @galwayindo
    As we are coming to the end of the 2012 tax year, there a few days left to take advantage of some of the various tax reliefs and exemptions that are available until 31 December. Were you working for all of 2012?
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  • Coll & Co

    Coll & Co Posted on 28/11/2012 by Rory Coll
    @galwayindo
    The capital gains tax deadline of 15 December is fast approaching 15 December 2012 is the deadline for paying capital gains tax on gains arising in the period 1 January to 30 November 2012. You may have a liability to capital gains tax if you made a gain on the disposal of an asset.
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  • Coll & Co

    Coll & Co Posted on 31/10/2012 by Rory Coll
    @galwayindo
    Are you in receipt of a State pension? Make sure you know the taxation implications, particularly in relation to payments for qualified dependents. Are State pensions taxable? Yes, the Department of Social Protection State contributory and non contributory pensions, formerly the old age pension, along with other types of pension, for example widow’s/widower’s pension, are taxable sources of income.
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  • Tax tips

    Coll & Co Posted on 03/10/2012 by Rory Coll
    @galwayindo
    Did you receive a gift or inheritance in the period 1 September 2011 – 31 August 2012? If so, you may have a Capital Acquisitions Tax filing requirement. When does the tax have to be paid?   The Pay and File date for Capital Acquisitions Tax (CAT) is 31 October.
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  • Rental income

    Coll & Co Posted on 19/09/2012 by Staff Reporter
    @galwayindo
    Do you have a rental property in Ireland or overseas? If so, you may have a tax liability on the income and must prepare and file an Irish tax return. The tax due on rental income is collected under the self-assessment system, i.
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  • Commercial real estate worth considering

    Coll & Co Posted on 11/07/2012 by Rory Coll
    @galwayindo
    Looking for an alternative investment other than cash? Commercial real estate may be worth considering. Large numbers of Irish investors continue to utilise cash deposits with the banks as their primary investment strategy.
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