Michael Noonan (Limerick City, Fine Gael)

It was the tradition that the lump sums paid to public servants as part of their pension schemes were tax free. That has been changed. They are now tax free to a certain level only, and then fully taxed after that level has been reached. The last tranche of the former Secretaries General emolument or lump sum would have been taxed at the marginal rate of tax. We tax it at 52%.

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