R Roro999 Registered User Messages 346 10 Oct 2023 #1 Are Govt once off lump sums such as the just announced in the budget invalidity pension €400 payment taxable ?
Are Govt once off lump sums such as the just announced in the budget invalidity pension €400 payment taxable ?
C ClubMan Registered User Messages 50,741 10 Oct 2023 #2 What specific payment(s)? Budget 2024 Learn about how Budget 2024 will affect your Social Welfare payments. Full details of the changes in this year's budget. www.gov.ie Invalidity pension is already assessible for tax so presumably any once-off additional payment will be too. Invalidity Pension Invalidity Pension is a social insurance payment that may be paid to people who cannot work because of a long-term illness or disability. www.citizensinformation.ie Tax and Invalidity Pension Invalidity Pension is a taxable source of income. The DSP informs Revenue that you are getting Invalidity Pension and the amount paid to you. Click to expand... Last edited: 10 Oct 2023
What specific payment(s)? Budget 2024 Learn about how Budget 2024 will affect your Social Welfare payments. Full details of the changes in this year's budget. www.gov.ie Invalidity pension is already assessible for tax so presumably any once-off additional payment will be too. Invalidity Pension Invalidity Pension is a social insurance payment that may be paid to people who cannot work because of a long-term illness or disability. www.citizensinformation.ie Tax and Invalidity Pension Invalidity Pension is a taxable source of income. The DSP informs Revenue that you are getting Invalidity Pension and the amount paid to you. Click to expand...
R Roro999 Registered User Messages 346 10 Oct 2023 #3 Thanks Clubman. They give you 100% lump sum but take a slice back at 20% or 40% tax.
C ClubMan Registered User Messages 50,741 10 Oct 2023 #4 Roro999 said: Thanks Clubman. They give you 100% lump sum but take a slice back at 20% or 40% tax. Click to expand... Or 0% if you're under the tax exemption threshold.
Roro999 said: Thanks Clubman. They give you 100% lump sum but take a slice back at 20% or 40% tax. Click to expand... Or 0% if you're under the tax exemption threshold.