Self employed pension contribution

[JDQ0604]

Hi, can someone please give me a simple example of the above, say a 50 year old earning 100k per year self employed with a tax bill of €50k for 2015 looking to make a lump sum payment with no other income or no existing/previous pension contributions? Is there a calculator or formula for this? Thanks

 

[Gordon Gekko]

He can put 30% of €100k into his pension (i.e. €30k). That reduces his tax bill by €12k.

 

[Steven Barrett]

...it will also reduce his prelim for 2017 by €12k too


Steven
http://www.bluewaterfp.ie (www.bluewaterfp.ie)

 

[fidelcastro]

Isn't it too late to avail of tax relief for 2015 tax bill in 2017....only 2016 can be reduced by 0ct31st
Fidel

 

[Gordon Gekko]

Isn't it too late to avail of tax relief for 2015 tax bill in 2017....only 2016 can be reduced by 0ct31st
Fidel

I assumed it was a typo, and that he/she meant 2016