Exemption limits
You are exempt from income tax if you are aged 65 or over and your total income is below the appropriate exemption limit, i.e., €18,000 in the case of an individual, and €36,000 in the case of a married couple, one of whom is aged 65 or over.
If you have one or more dependent children, the exemption limit is increased as follows: €575 for each of first and second child, and €830 for the third child and each subsequent child.
Other exemptions
The other main exemptions from income tax are:
(a) Personal injury settlements (s 189), payments from the Haemophilia HIV Trust (s 190), Hepatitis C compensation (s 191), and payments in respect of thalidomide victims (s 192).
(b) Income of artists, writers and composers, subject to the limitation of reliefs for high earners – see below (s 195).
(c) Interest on savings certificates (s 42) and instalment savings schemes (s 197).
(d) Income of recognised charities (s 207, 208).
(e) Income from patent royalties, provided the development work was done in the EU (s 234).
(f) Income of amateur sports bodies (s 235).
(g) Rent from let farm land (s 664). To claim, you must be aged 55 or over, or unable through physical or mental incapacity to carry on your farming trade. Exemption is given for the lower of:
(i) the farm rental income surplus, or
(ii) €20,000 where the lease is for more than 10 years, €15,000 where the lease is for seven to 10 years, or €12,000 in any other case.
(h) Rent-a-room relief (s 216A). Income from letting rooms in your private residence is exempt provided your gross income from such letting does not exceed €10,000 in the tax year.
(i) Home childcare earnings of up to €15,000 in the tax year (s 216C).