PART 7 Contributions by Employees to Certain Superannuation Funds and Schemes

Source

Income tax regulations 2001 part 7.

41 Interpretation (Part 7)

In this Part of these Regulations “allowable contribution” means a contribution or a deduction payable by an employee and deductible by an employer from emoluments of the employee and which is—

(a) by virtue of section 471 of the Act, allowable as a deduction from such emoluments for the purposes of assessment under Schedule E,

(b) an ordinary annual contribution, or any other contribution treated by the Revenue Commissioners, as respects the year in which it is paid, as an ordinary annual contribution paid in that year, allowable by virtue of section 774 or 776 of the Act, as a deduction from such emoluments for the purposes of assessment under Schedule E,

(c) by virtue of section 787C (inserted by the Pensions (Amendment) Act 2002) of the Act, to be deducted from or set off against the employee’s relevant earnings (within the meaning of section 787B (as so inserted) of the Act) for the year of assessment in which it is paid,

(d) by virtue of section 787 of the Act, to be deducted from or set off against the employee’s relevant earnings (within the meaning of section 783 of the Act) for the year of assessment in which it is paid, 

(e) by virtue of section 790C of the Act (inserted by section 16 of the Financial Emergency Measures in the Public Interest Act 2009) allowable as a deduction from such emoluments for the purposes of assessment under Schedule E.

Amendments

Income Tax (Employments) Regulations 2002 (S.I. 511/2002) reg 3(b). under section 1 of the Pensions (Amendment) Act 2002 (No. 18/2002), coming into operation of section 4 of that Act.

Income Tax (Employments) Regulations 2003 (S.I. 613/2003) reg 3(h).

Financial Emergency Measures in the Public Interest Act 2009 section 16(2).

42 Deduction or repayment by reference to superannuation contribution

When making a deduction or repayment of tax in accordance with the provisions of Part 4 of these Regulations from or in respect of emoluments to which Chapter 4 of Part 42 of the Act, applies, an employer shall make such deduction or repayment as would require to be made if the amount of the emoluments were those emoluments reduced by the amount of the allowable contribution deductible from those emoluments.