Written answers
Thursday, 8 December 2005
Department of Finance
Pension Provisions
8:00 pm
Liz O'Donnell (Dublin South, Progressive Democrats)
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Question 146: To ask the Minister for Finance the provision made for income tax relief on pension provision for a carer employed by a person, in that person's home; the reason a carer contractually employed in the home in full tax compliance, cannot have tax provision made for them on the same basis as if they were employed in the same role in a nursing home or hospital; and if he will make a statement on the matter. [38540/05]
Brian Cowen (Laois-Offaly, Fianna Fail)
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I am informed by the Revenue Commissioners that there is no general tax pension relieving provisions aimed specifically at employed carers. However, the general tax pension relieving provisions as apply to employees will apply to employed carers. First, an employee who is not in a Revenue approved occupational pension scheme may effect either: (a) a retirement annuity contract; or (b) a personal retirement savings account, PRSA, and claim tax relief, subject to certain restrictions, in respect of his or her contributions to such schemes.
Second, where an employer has in place a Revenue approved occupational pension scheme, under Chapter 1, Part 30 of the Taxes Consolidation Act 1997, the employee may claim, subject to certain restrictions, tax relief on his or her contributions to such scheme. With effect from 13 September 2003, where an employer does not provide an occupational pension scheme or an additional voluntary contribution facility, such employer must provide access for an employee to at least one standard PRSA and the policing of this rests with the Pensions Board.
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