The average tax refund claimed by Irish people in the last year has been revealed
The average tax refund claimed by Irish men was 10% greater than Irish women.
Irish people claimed an average of €980 in tax refunds in the last year, according to the most recent customer index by Taxback.com.
The index revealed that the average refund for Irish men over a 12-month period was €1,028 (the first time it’s exceeded €1,000), while the average refund claimed by women was €932.
The average refund increased steadily and significantly amongst older age groups in Ireland, with people aged 65 and over claiming an average of €2,072.93 compared to, for example, an average of €877.54 claimed by those in the 25-34 bracket.
Although the refunds were smaller, however, Irish people under 45 accounted for 74% of all refunds, with those in the 25-34 age bracket the most likely to apply for refunds, having accounted for 42% of all applications.
Commenting on the data in the index, Barry Flanagan, Senior Tax Manager of Taxback.com said: “We always like to keep abreast of trends and consumer sentiment in our industry so who better to go to for this info than our own customers?
“With this in mind we ran a 12 month analysis (2016 – 2017 to date) of our customers to look at current trends in both the age and gender of claimants. We found that the under 45s account for a whopping 74% of all refunds, with the 25 – 34 age group emerging as the most likely to apply – accounting for 42% of all applications”.
Flanagan attributed the higher figures received by older people to the fact that higher earners pay more tax and are entitled to greater refunds and that older people are likely to have more medical expenses, which is one of the most popular items people can claim for.
Regarding the discrepancy in the size of the refunds claimed by men and women in Ireland, Flanagan noted a variety of reasons for it, including the gender pay gap and the number of women currently working part-time in this country.
“In Ireland, as of Q1 2017, women made up 46% of the workforce in employment – and they make up 43% of our applicants,” Flanagan said.
“Interestingly, the average refund for men was 10% greater than that of their female counterparts (€1028 vs €932). There could be a variety of reasons for this – the gender pay gap is one that springs to mind.
“However, the ratio of females to males in part-time work could also come into play. There are currently 307,900 women working part time in Ireland, while there are just 132,700 men in the same position.”