Hello,
I am unable to work due to injury and am receiving Invalidity Pension from the department of social welfare, totalling 10k€ per year. I am entitled to the personal and PAYE tax credits (1650€ each). My husband who earns a decent pay is using my PAYE tax credit (which is transferable). I therefore pay 20% Income tax on the social welfare payment I receive above €8,250.
My question is: Can I contribute to a pension for 1750€ per year and claim 20% tax back, in the same way I would be entitled to if I was earning through employment the 10K€ per annum.
Thanks for any advice.
I am unable to work due to injury and am receiving Invalidity Pension from the department of social welfare, totalling 10k€ per year. I am entitled to the personal and PAYE tax credits (1650€ each). My husband who earns a decent pay is using my PAYE tax credit (which is transferable). I therefore pay 20% Income tax on the social welfare payment I receive above €8,250.
My question is: Can I contribute to a pension for 1750€ per year and claim 20% tax back, in the same way I would be entitled to if I was earning through employment the 10K€ per annum.
Thanks for any advice.