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Young men are quickest to get their tax back

YOUNG male Dubliners are the quickest in the country when it comes to getting their tax back.

"Several thousand" aged from 25 to 30 successfully claimed tax refunds from the Revenue in 2011, new figures show.

Younger people in general are more likely to submit a tax reclaim in the hope of getting some extra cash back, website www.taxback.com said.

The older we are, the less likely we are to apply for our tax refunds, their Customer Taxback Index indicates. It showed:

nMore males (57pc) than females (43pc) claimed tax refunds in 2011

•27pc of claimants came from Dublin

•25 to 35 year olds accounted for 64pc of all claimants

•Those over 50 were the worst for claiming back, accounting for only 4pc of claimants

"Thousands of euro go unclaimed in tax every year," said Darren Byrne of taxback.com.

"Our average refund is €840 -- so thousands of people are effectively throwing this money in the bin by not claiming what they're entitled to."

Older people who have been working for a number of years may feel they are already claiming their full entitlement -- or may be afraid they owe tax.

Mr Byrne said: "What is always of great interest to people is the most popular tax reliefs/claims that people go for."

"Surprisingly, we found that these changed between 2010 and 2011 -- with the rent tax credit coming in first place in 2010 and trade union subscriptions coming first last year."

People should ensure they claim all the tax credits, allowances and reliefs they are entitled to, Mr Byrne added.

"Many of these reliefs can still be claimed up to four years after the tax year in which they were incurred, so we're advising people to look back."

mlavery@herald.ie


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