Taxes Consolidation Act 1997 Schedule 23A

Specified occupations and professions

Schedule 23A lists the specified occupations and professions that qualify an individual for sportsperson's retirement relief under section 480A and for the higher rate of retirement annuity contribution relief under section 787.

• The schedule lists thirteen sporting occupations: athlete, badminton player, boxer, cricketer, cyclist, footballer, golfer, jockey, motor racing driver, rugby player, squash player, swimmer, and tennis player.
• The listed sports are those in which participants would typically have a relatively short professional earnings span, justifying special tax treatment on retirement.
• An individual engaged in a listed occupation or profession may claim income tax relief under section 480A on permanently ceasing to participate in the sport, subject to the conditions of that section.
• An individual in a listed occupation or profession may also contribute up to 30 per cent of net relevant earnings to an approved retirement annuity contract under section 787, compared with the lower percentage limits that apply to other taxpayers.