Money Matters | Contemporary Living

What changes have been made to Mortgage Interest Relief?

Cecilia Smith, Development Manager at County Cavan Citizens Information Service answers a question on the recent changes to Mortgage Interest Relief.

Question: I’m confused about the changes that were made to Mortgage Interest Relief in Budget 2012. I’m a first-time buyer who started paying my mortgage in 2006. When will my entitlement expire and what rate of relief am I entitled to?

Your rights: Supplementary Welfare Allowance

Cecilia Smith, Development Manager at County Cavan Citizens Information Service sums up how to apply for Supplementary Welfare Allowance.

You are entitled to money while your Claim is being processed

Question: I was told to apply for Supplementary Welfare Allowance (SWA) while I wait for a decision on Jobseeker’s Allowance. What is SWA and where do I apply?

Answer: The Supplementary Welfare Allowance (SWA) Scheme provides a basic weekly allowance for people with little or no income. Its main purpose is to guarantee a basic minimum income and provide immediate help for people waiting for decisions on other State payments.

Your rights: Buying Christmas gifts over the Internet

Cecilia Smith, Development Manager at County Cavan Citizens Information Service outlines your rights when purchasing Christmas gifts on-line.

Question: I have ordered some Christmas presents from UK and Belgian websites. Can I return them if I’m not happy when they arrive?

Answer: Online purchases within the EU are covered by the European Directive on Distance Selling. Under this Directive you are entitled to a cooling-off period of seven days.

Budgeting tips for Christmas

It is very easy to get carried away at Christmas and spend too much. So how do you prevent a financial hangover once Yuletide is over? The straightforward answer is to prepare a budget and stick to it!

Make a list before you go Christmas shopping

Christmas is a very tempting time for us all. There’s the emotional tug to buy presents for our nearest and dearest as well as the tradition to indulge in plenty of rich food and drink. With many of us finding it difficult to just keep up with increasing fuel and utility bills the thought of Christmas can fill many of us with dread.

This year, why not consider making a budget for the festive period so that you can enjoy the holiday without worrying about what the New Year will have in store? The national consumer agency has compiled a budget planner that will help you make a comprehensive budget, click here.

Once you have decided how much you can spend on presents, Christmas decorations, food and socialising it is important to stick to it.

Tax relief on medical expenses

Accountant, Tommy McGibney outlines the tax relief that can be claimed on many common medical expenses.

In order to claim for tax relief ensure you keep the receipts from prescribed medication

Did you know that you can claim tax relief on the cost of your medical expenses? This is one of the most valuable tax reliefs available in the Irish Income Tax code yet much of the available tax relief goes unclaimed each year. To claim your relief in full, read on…

What is included?

Tax relief is generally available on the cost of:

Doctors’ and consultants’ fees
Medicines and treatments prescribed by a doctor or consultant
Hospital treatment and nursing home care
Ambulance services
Expenses incurred by a kidney patient using hospital dialysis, home dialysis or CAPD
Specialised dental treatment
Routine maternity care and in-vitro fertilisation
Diagnostic procedures
Orthoptic or similar treatment
Hearing aids
The cost of an orthopaedic bed, chair, a wheelchair or wheelchair lift
Glucometer machine for a diabetic
Private nursing care
Physiotherapy chiropody and podiatry services
Computer costs to assist a person with significant communication problems
The cost of gluten-free food for coeliacs.