Relief on AVC Lumpsum

Hi all

Have put 100% of my bonus into an AVC. I know i am entitled to tax and PRSI relief. On my payslip it does not show anything in relation to the bonus.

How is this relief applied ? Are my credits increased for the remaining months of the year or should I have received a reduced bonus ?

Thanks in advance.

If you made the contribution via payroll then you should receive tax/PRSI relief via payroll. If you made it from after tax income then you will need to claim tax and PRSI relief yourself. Check with your payroll department as to which way they did it.

Thanks for the quick reply Clubman

Was made via payroll, as far as I know, so sould have got some of my bonus anyway !

I.e Bonus €10,000, tax/prsi relief 46%?, then should still have got paid €4,600 or should this be increased credit for the rest of the year.

You don't get to keep any of it, the whole 10,000 goes into your pension
If you had taken it in cash, you would have gotten 5,400, the taxman 4,600.
You get 10,000 into your pension at an effective cost to you of 5,400