Wednesday 29 March 2017

Don't leave your tax unclaimed

A report by the Oireachtas Committee on Finance estimates that unclaimed tax relief adds up to some €350m per year, of which €50m is for unclaimed medical expenses. That's your money remember.

According to Anne Mc Goldrick, Medical Director of The Physio Company, a large proportion of this, is in unclaimed physiotherapy receipts.

Mc Goldrick states: "As a PAYE worker, you are entitled to claim back a portion of your medical expenses through both your private health insurance and through the Revenue. Although most people are aware that doctor's visits, and many dental procedures are applicable for tax relief, many do not realise that a receipt from a chartered physiotherapist is also applicable."

The advice is to hold on to medical receipts and submit them to Revenue with the Med 1 form at the end of the year. You can claim back four years and for pre-2009 claims you can claim at the highest tax band and from 2009 at 20%.

Remember, if you have private health cover and it has covered some of the cost of your treatment you can still claim tax back on the remainder.

Irish Independent

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