Written answers
Tuesday, 15 October 2013
Department of Finance
Tax Reliefs Application
Róisín Shortall (Dublin North West, Independent)
Link to this: Individually | In context | Oireachtas source
33. To ask the Minister for Finance if, in respect of Appendix D of the Green Paper on Pensions, he will provide the same information in respect of PRSAs and RACs for the latest year for which figures are available. [43460/13]
Michael Noonan (Limerick City, Fine Gael)
Link to this: Individually | In context | Oireachtas source
I am informed by the Revenue Commissioners that the latest relevant information available is in respect of income tax relief allowed for contributions to Retirement Annuity Contracts (RACs) and Personal Retirement Savings Accounts (PRSAs) for the 2010 income tax year. RACs and PRSAs are available to self-employed people and to employees who are not in occupational pension schemes. The information in the following tables sets out the number of cases and the amounts of deduction and reduction in tax for tax relief for RACs and PRSAs for the various contribution ranges.
The information is based on income returns contained in Revenue records at the time the data were compiled for analytical purposes, representing in the region of 90% of all returns expected.
A married couple that has elected or been deemed to have elected for joint assessment is counted as one tax unit.
No comments