TA22 and TA24 Submission Deadline Date Change

January 03, 2019 | 2 minute read

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The Commissioner for Revenue has announced that the deadline for the submission of TA22, for Part Time Self Employed persons in terms of Section 90A (7)(b) of the Income Tax Act and TA24, for the taxation of Rental Income in terms of Article 31D of the Income Tax Act has been changed to 30th April 2019.

 In this regard, the above mentioned forms shall reach the Inland Revenue Department by 30th April 2019 for the taxation of part-time self-employment income and rental income derived during financial year 2018.

A taxpayer working as self-employed on a part-time basis may qualify for the 15% flat tax rate on the declared net profit up to a maximum of €12,000 (maximum tax charged at 15% = €1,800).  If eligible the taxpayer is to submit a TA22 Form and make the necessary payment annually by the 30th June of the following year.  Only the remainder of the net profit in excess of €12,000 is to be declared by the taxpayer in the personal income tax return.

The TA24 Form for residential income received up to 31st December 2015 is to be used by persons who are opting to pay the flat rate tax of 15% on rental income from tenements leased to individual/s as a residence or garage.  No deductions of expenses and maintenance costs are permitted.


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