In relation to tax briefing 74, revenue have outlined that when applying the earnings limit contributions must first be made to the Occupational pension scheme before an AVC can be made to an RAC/PRSA.
PAYE income €100k
Case I income €100K
Earning limit 28 yo =15% (17,250).
OPS contribution made 10k
Potential balance for relief €7,250
However, revenue state in TB 74 that of the €7,250 balance available that €5,000 should first be made to the OPS (PAYE income €100k @ 15% less 10€k OPS contribution) and the balance of €2,250 can then be made to the RAC/PRSA.
Do you know the statutory reference that outlines where a contributions must made against the OPS first and then the RAC/PRSA, ot is this just revenue guidance?