Taxes Consolidation Act 1997 Schedule 3, paragraph 13

Top-slicing limit in 2013 - €200,000

Paragraph 13 of Schedule 3 removes top-slicing relief for ex-gratia termination payments of €200,000 or more made on or after 1 January 2013.

• Top-slicing relief under Schedule 3 does not apply to any payment of €200,000 or more that is chargeable to income tax under section 123.
• This restriction applies to payments made on or after 1 January 2013.
• The €200,000 threshold is determined before applying any exemption or deduction available under section 201.
• Paragraphs 11 and 12 of Schedule 3 apply to aggregate multiple payments when determining whether the €200,000 limit has been reached.