Michael Finucane
Question:122 Mr. Finucane asked the Minister for Finance the number of old age pensioners who pay DIRT tax; the criteria used for recovery by them of DIRT tax paid; and the number who reclaim this tax.
Written Answers. - Dirt Tax.
I am informed by the Revenue Commissioners that data are not available which would enable old age pensioners to be distinguished from other depositors who have deposit interest retention tax deducted from their deposit interest.
The Finance Act, 1986, provides for repayment, after the end of the tax year, of deposit interest retention tax deducted from persons aged 65 years or over to the extent that they would not otherwise be liable to tax on the relevant deposit interest.
The available statistics on refunds of deposit interest retention tax do not distinguish between refunds made to approved charities, those made to individuals aged 65 or over and those made to incapacitated individuals. The total number of cases in which such refunds were made during the course of 1990 was approximately 20,800; the vast bulk of these are likely to have been individuals aged 65 years or over.