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Ireland: All You Need To Know About Paying The Property Tax

05 November 2013   (0 Comments)
Posted by: Author: Charlie Weston
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Author: Charlie Weston (Irish Independent)

THE tax authorities have been insisting that homeowners do not have to pay their property tax before Christmas.

But people who pay by credit or debit card will have to pay -- and could end up shelling out between ¿200 and ¿400 for the tax just as the festive season and its associated spending kicks in.

It also means they are effectively paying twice in the same year having already shelled out for six months of the tax in 2013.

Here we explain the different payment methods, so people avoid having to pay property tax before Christmas.

Close to one million homeowners were shocked to get a poorly written letter warning them that if they choose to pay by cheque, credit card or debit card they will end up handing over the money this month.

If you received the letter and a payment-options form from Revenue, you need to send a completed form back by this Thursday if you are filling out the form by hand.

You have until Wednesday, November 27, if you opt to change how you want to pay the 2014 property tax by filing out the details online.

If you do nothing, then Revenue will assume you want to pay the tax the same way you did earlier this year.

Here are the six different options for paying what Revenue calls the LPT (local property tax).

One-off method gives you more time before handing over cash

Few had heard of a single debit authority until the officials in Revenue introduced it as a way of paying the property tax.

But it might be worth your while getting familiar with this concept, as paying by this method will mean you have more than four months before you have to pay the dreaded tax.

A single debit authority is similar to a direct debit, except it is a one-off payment.

With a direct debit, you give your bank the authority to pay over money whenever it is demanded from the company that has signed you up for the direct debit arrangement.

This article first appeared in independent.ie.


WHY REGISTER WITH SAIT?

Section 240A of the Tax Administration Act, 2011 (as amended) requires that all tax practitioners register with a recognized controlling body before 1 July 2013. It is a criminal offense to not register with both a recognized controlling body and SARS.

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