James Reilly (Dublin North, Fine Gael) | Oireachtas source

I move amendment No. 5:

In page 5, between lines 18 and 19, to insert the following:
"Amendment of section 7H of Principal Act
6.Section 7H(ii) of the Principal Act is amended by inserting "after deducting from the net premium the deduction to which such insured person is
entitled, for the year of assessment concerned, by virtue of section 470 of the Taxes Consolidation Act 1977" after "each insured person".".

Following the amendment to the Taxes Consolidation Act, introduced by the Minister for Finance, to limit the relievable amount of premium and the amendment contained in this Bill to the definition of "net premium" in section 2 of the principal Act, I am making provision to amend section 7H(b) of the Act so that the renewal notice-statement issued to a policyholder by a registered undertaking will clearly show the premium payable by the insured member, net of tax relief at source. Basically, this is about giving the insured person more information as to what their premium really is.