Maximise Your Special Needs Tax Credits & Receive Your Full VAT Refunds As the HSE, Charities and Service Providers struggle to cope financial, parents are faced with being put on extremely long waiting lists for equipment, therapies and services. No parent likes to see their child waiting for essential treatment or equipment and many parents are opting to pay for services or equipment themselves. This can be a huge on-going expensive. There are a number of way parents can reduce this out of pocket expense. Medical Expenses Your Med1 Form allows you to claim a tax refund on most medical expenses. You can reclaim 20% of the medical expenses for you and your family incur on medical bills such as: Doctor & Consultant visits Reports & Assessments Hospital or nursing care Medication costs Physiotherapy, OT & Speech Therapy Medical Equipment If you want to purchase medical equipment to help your child with independent living you are entitled to claim a VAT refund. The rule is that it must be specifically for your child and assist them in some way. Before you purchase an item, check that the Revenue will give you back the VAT. Below are some examples of items that you can claim VAT on. Drinking & eating aids Hoists and lifting equipment Stair lifts & walking aids Purchase & adaptation of car Communication aids This list can be expanded, especially if a Therapist prescribes a piece of equipment such as a computer, software or an iPad. Relief for building works If you renovate your family home to make it user friendly for your child, remember that you can also claim back the VAT on building materials and labour cost directly associated with the disable builds. You potential could also claim under the Mobility Aid Grant or Housing Adaptation Grant, both grants are means tested. What to do next Unfortunately, it falls on parents to uncover all of the entitlements, allowances, grants and tax credits that are available from the Department of Social Protection, HSE and Revenue. To help you I have written a booklet “Your A-Z Guide On Special Needs Entitlements.” This booklet is exclusively for my clients but I am making it available to all parents for free up until 30th of July 2013 by calling 021 482 3635 or email [email protected]. ************************************************ Fund Your Special Child’s Trust From Entitlements Today - For A Brighter Tomorrow This article was prepared by Allan Cuthbert, a Special Needs Trust Planner. If you have a Trust planning question, feel free to email [email protected] or call 021 482 3635. To see why all parents must set up a Special Needs Trust, check out financialwellbeing.ie
Posted on: Wed, 24 Jul 2013 18:07:57 +0000
Trending Topics
Recently Viewed Topics
© 2015