Shifts towards digitising the PAYE tax system in Ireland have been described as “futile” and “counterproductive” by DCU students.
Revenue plans get rid of the P30, P35, and P60 tax forms which should help simplify monthly and quarterly tax returns. Revenue chairman Niall Cody has described integrated, full-time tax reporting as the future.
The plan should benefit employees who will receive entitlements from tax allowances and credits quicker, but more needs to be done to publicise the plan to students and young workers who know very little about the tax process, according to DCU Law Society’s Yazmeen Mac Donnell.
“In terms of publicising this and advertising this shift, I don’t think enough has been done to inform people as a whole, definitely not students,” Mac Donnell said.
“This system could really improve and aid students’ PAYE tax but if we don’t know about it then it’s really futile and counterproductive.
“A lot of tax relief is available for students, as one myself it took me time and research to find this information. The idea that it’s not readily available and taught to us is perplexing.
“With that being said, students are turning to Tax Rebate companies for help, but this, in my opinion, showcases the inaccessible nature of the information,” Mac Donnell added.
She did, however, welcome the changes overall, saying it will help bring tax in line with more modern, digital forms of banking that students are used to.
“I think it would be a great idea in terms of making it more accessible and bringing it into the 21st century,” she said.
“I think that turning it into something that many students can get to grips with online would urge students to manage their tax in a more pragmatic fashion.
“If we look at the success of online banking and other online facilities, it can only be a good thing in my opinion,” she said.
Accounting and Finance student and DCU Investment Society Chairman James Guckian echoed MacDonnell’s sentiments, saying the average student knows very little about their own position when it comes to taxation.
“I feel that students are not that aware of the forms and standard procedure that apply to them,” he said.
“Frequently I hear through word of mouth of friends of issues with ‘Emergency Tax’, being taxed in excess of their requirements each year and being entirely unaware of how to go about reclaiming their money owed.
“With the rise of more companies offering tax rebate services such as taxrebate.ie I can only see more students relying more heavily on these services rather than making themselves aware of how they can reclaim it,” he said.
The updated system will improve the convenience element of the system making the forms more readily available, however it does not address the lack of initial awareness.
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