Alexmartin
Registered User
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- 61
I am a PAYE worker and pay the max percentage allowable for my age (25%) from my salary into the company pension plan for which I get 41% tax relief.
I also have an investment property which makes a small profit.
Can I also pay the same percentage of the rental income into a pension fund and then claim 41% tax relief on that also, Or is the investment income not allowed to count towards the 25% of income.
I dont know if i'm asking the question properly here so i'll use some sample figures.
Salary €50,000.
25% = €12,500 paid into pension.
New taxable income after pension taken out = €37,500
Rental Income after expenses etc €10,000 - taxable at 41%
Can I pay 25% of the rental profit (€2,500) into pension fund and then only have to pay tax on the €7,500 thats left?
And if so How would I go about doing this.
Thanks.
I also have an investment property which makes a small profit.
Can I also pay the same percentage of the rental income into a pension fund and then claim 41% tax relief on that also, Or is the investment income not allowed to count towards the 25% of income.
I dont know if i'm asking the question properly here so i'll use some sample figures.
Salary €50,000.
25% = €12,500 paid into pension.
New taxable income after pension taken out = €37,500
Rental Income after expenses etc €10,000 - taxable at 41%
Can I pay 25% of the rental profit (€2,500) into pension fund and then only have to pay tax on the €7,500 thats left?
And if so How would I go about doing this.
Thanks.