Calculating Tax Relief on SCSB

nip102

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Hi

I have a query regaring calculating tax relief on scsb, as I am about to be made redundant.

The revenue.ie website states: " Renumeration includes gross salary, benefits-in-kind, less revenue agreed flat rate expenses"
"SCSB
The formula is [A X (B /15)] - C
Where A is the average annual remuneration for the last 36 months of service to date of termination.
B is the number of years of service
C is value of tax free lump sum receivable under an approved pension scheme."

MY QUESTION.
Does the above mean when I calculate my remuneration it should include the following items below or is it only my basic salary is used for the top slicing tax relief calculation item A in formula ?????

1.Basic Gross Salary.
2.Annual Bonus Payment.
3.Car Allowance for my private car.
4.Employers VHI contribution.

Any guidance is much appreciated.

Thanks
N
 
The remuneration means all assessable remuneration for your employment- that would include the bonus and the benefit-in-kind (VHI).
If the car allowance is taxable it would also be included but if it is tax exempt expense allowance it's excluded
 
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