I have a question and wanted to check the position. If a person has say 40k PAYE income from Full time job and approx 10k income from rental income then is the limit for Pension contributions calculated on 40k or 50k?
For example I understand under age 50 25% of income can be invested in a pension free of tax (but subject to PRSI and USC). In the above example is that amount 10k or 12.5k.
Tks in advance
For example I understand under age 50 25% of income can be invested in a pension free of tax (but subject to PRSI and USC). In the above example is that amount 10k or 12.5k.
Tks in advance