Savings & Tax

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Notice to Members about taxation of credit union Share Dividend and Deposit Interest

 

Budget 2014 contains the following provisions regarding Deposit Interest Retention Tax (DIRT):

From 1st January 2014 all credit union share dividend and deposit interest paid to members will be subject to DIRT, with the exception of dividend or interest paid to members who are exempt from DIRT. The only members who can be exempt are:

• Members aged over 65 whose total income is less than the relevant limit, currently €18,000 for an individual and €36,000 for a married couple. For married couples, only one of the spouses needs to be over 65. To avail of this exemption, you must sign a self-declaration form DE1. This form is available in your credit union and is a declaration that you (or your spouse) are aged over 65 and that your total income is less than the relevant limit.

• Members who are permanently incapacitated. Such members should either contact their local Revenue Commissioners office directly or contact a service body such as the Irish Wheelchair Association. Credit unions have no role in approving the exemption in these cases.
If you do not complete the self-declaration form, the credit union will be obliged to deduct DIRT from your dividend or interest. You will then have to apply directly to the Revenue Commissioners for a refund of this DIRT (if you are eligible).

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St. Columba’s Credit Union Mervue Galway

Contact Us.

Main Office
St. Columba's Credit Union Ltd,
Walter Macken Road, Mervue, Galway
Tel: 091 755 825, Fax: 091 770 964
Email: info@galwaycreditunion.ie

Or fill out the form below and we will contact you

Opening Times:

Mon 9.30am - 5.30pm
Tue 9.30am - 5.30pm
Wed 9.30am - 5.30pm
Thu 9.30am - 5.30pm
Fri 10.00am - 6.00pm
Sat 9:30am - 2:00pm
St. Columba’s Credit Union Oranmore Galway

Contact Us.

Oranmore Galway
6 Castle Road, Oranmore
Co. Galway
Tel: 091 794 477, Fax: 091 795 401
Email: info@galwaycreditunion.ie

Or fill out the form below and we will contact you

Opening Times:

Mon 9.30am - 1.30pm & 2.30pm - 5.30pm
Tue 9.30am - 1.30pm & 2.30pm - 5.30pm
Wed CLOSED
Thu 9.30am - 1.30pm & 2.30pm - 5.30pm
Fri 10am - 1.30pm & 2.30pm - 6pm
Sat 9:30am - 2:00pm
St. Columba’s Credit Union Eyre Square Galway

Contact Us.

Sub Office
St. Columba's Credit Union,
24 Eyre Square, Galway
Tel: 091 563531, Fax: 091 565120
Email: info@galwaycreditunion.ie

Or fill out the form below and we will contact you

Opening Times:

Mon 9.30am - 5.30pm
Tue 9.30am - 5.30pm
Wed CLOSED
Thu 9.30am - 5.30pm
Fri 10am - 6pm
Sat 9:30am - 2:00pm
PLEASE NOTE: CLOSED WEEKDAYS FOR LUNCH 12.30pm to 1.30PM.