Emigrants missing out on tax refunds

THOSE thinking of emigrating or who have recently returned to Ireland could be missing out on hundreds of euro by not claiming tax back.

The news comes as it is revealed that one-in-three people aged between 18 and 24 are considering emigrating, according to an Irish Examiner survey.

Tax specialist with Taxback.com Christine Keily said the company has seen an increased number of people approaching them for assistance in finalising their tax affairs in the year that they emigrate.

“Given the current economic climate in Ireland, many young people have been forced to make the hard decision to emigrate,” she said.

“In many cases there is scope to reclaim some of the tax that has been paid in Ireland in the year of emigration and many of our customers have found this to be a huge help when setting up abroad. We also have been approached by a large number of people looking for expatriate tax assistance.”

People leaving Ireland may be entitled to claim a tax refund for the year of departure. A relief known as split year residence relief grants an entitlement to full credits and bands to those in these circumstances which often results in a tax refund. Applications can be made in the year of departure or after the relevant year end. The same relief may apply in the year of return to Ireland.

According to VisaFirst. com, a company that organises visas for those looking to emigrate, there has been a big shift in the profile of people now going abroad.

Business development manager with VisaFirst.com Alan Gallagher said: “In the last few years it has been young people going for a year abroad, knowing that they are coming back to plenty of work, but now people are going and staying away because there is no work here.

Mr Gallagher said there are more than 35,000 vacancies in Australia.