Dáil Éireann Debate, Tuesday - 4 March 2014
81. Deputy Stephen S. Donnelly asked the Minister for Education and Skills the reason Student Universal Support Ireland does not accept the notice of assessment by the Revenue Commissioners used to calculate income for all sectors, and the factors in the cost of doing business; and if he will make a statement on the matter. [10460/14]
View answerA Notice of Assessment is issued by Revenue in accordance with a tax return filed by a person for a particular year. This shows a person's total tax liability for the tax year. For Revenue purposes certain expenditure is allowable in arriving at taxable profit/loss which may not be allowable in computing reckonable income for grant purposes.
In order that the reckonable income for student grant purposes can be determined documentary evidence must be submitted to allow for the accurate calculation of reckonable income. The following may be requested in respect of self-employed income for the relevant year:1. Copy of accounts (trading account, profit and loss account, capital account and balance sheet); 2. Adjusted Profit Computation for income tax; 3. Notice of Assessment or its foreign equivalent; 4. If it applies, a current letter from the Revenue Commissioners exempting the relevant person from filing tax returns or equivalent from another state; 5. If the accounts contain a wage or remuneration expense, a detailed breakdown must be provided of wages paid to the following as outlined in Article 23 (1)(d) of the Scheme:
- wages or payments made without applying the PAYE and PRSI regulations or equivalent regulations;
- wages or payments to dependent children;
- wages or payments to non-dependent children where the payment is above the norm for the work undertaken.
An applicant shall not be eligible for a grant if the reckonable income for the purpose of the means testing is over the prescribed income limits or if there is insufficient supporting documentation for the application to be assessed.
