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Thread: Tax Return asking if ceased residency or was unemployed in last tax year - why?

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    Tax Return asking if ceased residency or was unemployed in last tax year - why?

    Hi,

    just wondering what the consequences are, if any, of indicating that residency was ceased over the course of the tax year or that one was unemployed for any period of the year (if IRP5 does not cover any or all of the 12 months, then i imagine it is obvious that one is not employed for taxable income purposes?)

    as someone who has moved overseas and wants to avail of the foreign investment allowance, i think the official answer is that i have moved overseas temporarily and have not ceased residency?

    the implication of indicating unemployment (what if my only income is interest income) is less clear - and best to ask around what the impact may be of answering one way or the other.

    would appreciate anyone's take.

    AMB

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    It may be that they are looking for tax on foreign earned income, whether employment, interest or dividends.
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