Taxes Consolidation Act 1997 section 113

Making of deductions

Section 113 defines "emoluments" for income tax purposes and sets out how deductions from emoluments are to be calculated.

• Emoluments include all salaries, fees, wages, perquisites, profits or gains arising from an office or employment.
• Annuities, pensions and stipends also fall within the definition of emoluments.
• Deductions from emoluments allowed under the Income Tax Acts must be calculated by reference to amounts actually paid or borne.
• The deduction is linked to the year or part of the year in which the relevant emoluments were earned.