SSIA Pension - Eligible for Tax Relief

[bloodycold]

Hi,

When my SSIA matured earlier this year I transferred 7,500 euro of it to a pension to avail of the government top of 2,500. My question is, am I entitled to tax relief on this 7,500. If so at what % and also, how do I go about claiming it?

Thanks

 

[CCOVICH]

To answer the question 'am I entitled' have a look at .

 

[bloodycold]

I really am a novice when it comes to the whole area of tax not to mind pensions!! I have just browsed that thread and am no closer to understanding if I can claim tax relief on the 7,500. Would you mind explaining it a little more simply please.

Thanks in advance.

 

[ClubMan]

If you got the €2,500 topup on the €7,500 transferred from your SSIA to a pension then you cannot also claim income tax relief on the €7,500. See [broken link removed].

Declaration

The declaration is very simple and will require you to declare that:

• Your income does not exceed €50,000 in the year prior to your SSIA maturing.
• You will not claim tax relief under normal tax rules for amounts up to and including €7,500 invested under the incentive.
• You will not use the incentive to replace any amounts that you are already committed to contributing to a pension product.

 

[bloodycold]

Thanks Clubman - that's pretty clear.

 

[ClubMan]

If you got the €2,500 topup on the €7,500 transferred from your SSIA to a pension [broken link removed]

Actually - just to be totally accurate - you should have received a bit more than €2,500 as you should have also received some of the SSIA maturity tax back too.