claming tax relief on PRSA

E

emerf

Registered User
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11
Hi
I have set up a prsa thorgh la brokers, with Irish Life. I sent a lump sum and on the certificate i got back it states that the lump sum will be invested from 15 jan 2007 and the start date for the prsa is also Jan. However I sent all my docs. and cheque through in December. Can I claim the lump sum off my 2006 tax, which is what i want to do?
 
One would have until 31 October 2007 to make a contribution in respect of the 2006 tax year.
 
Hi Emerf

my husband is currently looking at setting up a PRSA. He is 37 and was also looking at putting in a lump sum to start it off. But is it crazy to use a lump sum if you wont get tax relief from it?
Also would you say that 1000 euros a month gross is enough of a pension for a 37 year old man? I have no pension myself
 
oysterman said:
Why wouldn't he get tax relief? Is he working?
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Mairead thinks you only get tax relief on contributions from your salary.

If you make a lump sum contribution you just tell the Revenue at the end of the year and you get tax relief at your rate
 
yes I did think he would only get tax relief from salary contributions.
Thanks for clarifying this. This whole pension thing is completely confusing to me!!
 
Mairead said:
yes I did think he would only get tax relief from salary contributions.
Thanks for clarifying this. This whole pension thing is completely confusing to me!!
Click to expand...

No worries...it is a minefield!
The sooner the government introduce a more transparent SSIA like scheme the better.
 
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