Deposit Interest Retention Tax
Do I pay DIRT on my dividend and interest?
From the 1st January 2014 all share and deposit accounts are subject to DIRT. This means that the credit union must deduct DIRT from any dividend or interest paid, including children's accounts, and forward this to revenue on your behalf.
The DIRT rate for 2023 is 33%
Members over 65 or members who are permanently incapacitated may be entitled to a refund of DIRT paid or an exemption from DIRT if your taxable income is below the annual exemption limits.
See https://www.revenue.ie/en/tax/dirt/dirt-repayments.html for more details.
If you qualify for DIRT exempt status please complete a form available in either office and we will mark your account as exempt. Otherwise we are legally obliged to deduct DIRT automatically.
If we have deducted DIRT from your account and you feel that you may be exempt you will need to claim a refund of the DIRT back from revenue yourself. The DIRT claim forms are available for members in either office.