Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie
Hi there,
There is an issue with role permissions that is being worked on at the moment.
If you are having trouble with access or permissions on regional forums please post here to get access: https://www.boards.ie/discussion/2058365403/you-do-not-have-permission-for-that#latest

Voluntary Contributions Tax Relief

  • 18-06-2020 9:19am
    #1
    willabur
    Registered Users, Registered Users 2 Posts: 1,636 ✭✭✭


    Hey All,

    I was on revenue website earlier looking at my tax returns and what I can possibly claim back. My company contribute 5% towards my pension fund while I contribute 10%. Does this constitute voluntary contribution on my part? Can I claim tax relief on the additional 10% that I am paying month by month?


Comments

  • #2
    Stratvs
    Registered Users, Registered Users 2 Posts: 958 ✭✭✭Stratvs


    Normally employee contributions are tax relieved on the 'net pay' arrangement through the employer.
    So your taxable pay is reduced by the contributions you make each month and you pay tax on the amount after that. So relief is given there already. You can check with payroll dept to be sure this is the case.

    https://www.revenue.ie/en/employing-people/what-constitutes-pay/employees-pension-payments/types-of-pension-contributions.aspx


  • #3
    willabur
    Registered Users, Registered Users 2 Posts: 1,636 ✭✭✭willabur


    so would that make the voluntary contribution that is referred to on ROS as money you put in that is outside of the payroll system?


  • #4
    Stratvs
    Registered Users, Registered Users 2 Posts: 958 ✭✭✭Stratvs


    willabur wrote: »
    so would that make the voluntary contribution that is referred to on ROS as money you put in that is outside of the payroll system?

    If you mean Additional Voluntary Contributions (AVC's) they are usually also dealt with via net pay arrangement when paid through the employer.

    If you make a payment which is not dealt with on the net pay arrangement i.e. not tax relieved via the employer then it ma be claimed on your tax return subject to the overall limits for relief ( % / age etc. )


Advertisement