I have been advised by the Revenue Commissioners that the taxpayer is under 65 years of age and, therefore, DIRT is payable on his investment income. A repayment of DIRT paid by an individual who is under 65 years of age will only arise where:
a. He is permanently incapacitated by physical or mental infirmity, and
b. The total tax payable on his income (including income subject to DIRT) is less than the DIRT paid.
There is nothing to indicate that the taxpayer satisfies these conditions. He has been granted all tax credits to which he has claimed entitlement.
As the taxpayer will be 65 years of age in 2009, he may apply directly to his Financial Institution to have interest arising on his investment account in 2009 payable without deduction of DIRT, provided his total income in that year does not exceed the relevant threshold. The threshold for 2008 is €20,000. The application is made by completion of Form DE1, available from all Financial Institutions, from some Citizen's Information Centres, from any Revenue Office or by phoning LoCall 1890 306 706.