Revenue E-Brief Issue 47/2014, 27 June 2014
Revenue has updated Part 15 of the Tax and Duty Manuals to include changes introduced in Finance (No.2) Act 2013 to reflect the restriction of relief on qualifying medical and dental insurance premiums to €1,000 per adult and €500 per child for policies renewed or entered into on or after 16 October 2013.
It also notes that the Age-Related Tax Credit for medical insurance premiums ceased with effect from 31/12/2012. Community Rating or Risk Equalisation is now applied to premiums at source and this has no tax implications.
The amended instruction can be accessed in Part 15-01-14 of the Income Tax, Corporation Tax and Capital Gains Tax Manual on the Revenue website.
27 June 2014