Taxes Consolidation Act 1997 section 848X

Declaration

Section 848X sets out the required content and format of the declaration that an individual must make to an administrator in order to avail of the SSIA-related pension incentive under section 848W.

• The declaration must be in writing, signed by the individual, and made in a form prescribed or authorised by the Revenue Commissioners, with a reference to the offence of making a false declaration under section 848AF.
• The declaration must include the individual's name, permanent residence address, PPS Number, date of birth, and the amount of the pension subscription.
• The individual must declare that his or her gross income for the year of assessment immediately before the year in which the SSIA maturity date falls does not exceed €50,000, and that none of his or her taxable income for that year is chargeable at the higher rate.
• The individual must also declare that no claim will be made for income tax relief on the first €7,500 of the pension subscription (other than the tax credit and additional tax credit), and that no reduction has been or will be made to amounts payable under a retirement benefits scheme, PRSA, or annuity contract in the year the section 848Y tax credits arise.