Claiming tax back for 2009 PRSA contribution

[m.sunny]

Hi everyone, i am hoping someone can clarify 2 things for me please:

I am 39 yrs old, self-employed and want to start a standard PRSA this month, and offset it against my 2009 liability.

My total liability for 2009 was €4500, of which I've already paid €4k, so just have €500 balance due this Oct 31st (for 2009). If I pay a lump sum of €2k into a pension before this OCt 31st, what amount will I be credited and how is it given? i.e. Rebate or credit against my 2010 liability?

Sorry if this is a very obvious answer, I am getting more confused the more I try and work it out myself, and am confused by the taxx relief given on PRSA contributions.

Many thanks,

M Sunny

 

[papervalue]

Hi everyone, i am hoping someone can clarify 2 things for me please:

I am 39 yrs old, self-employed and want to start a standard PRSA this month, and offset it against my 2009 liability.

My total liability for 2009 was €4500, of which I've already paid €4k, so just have €500 balance due this Oct 31st (for 2009). If I pay a lump sum of €2k into a pension before this OCt 31st, what amount will I be credited and how is it given? i.e. Rebate or credit against my 2010 liability?

Sorry if this is a very obvious answer, I am getting more confused the more I try and work it out myself, and am confused by the taxx relief given on PRSA contributions.

Many thanks,

M Sunny

If you pay lumpsum before 31/10/10

1. Put it on 2009 tax return under pension paid between 01/01/10 to 31/10/10- Here you get relief immediately and any refund due will be on tax assessment

2. note also 20% of net relevant earnings which more than likely you qualify for based on above

please read link also
[broken link removed]