R Roro999 Registered User Messages 390 10 Oct 2023 #1 Are Govt once off lump sums such as the just announced in the budget invalidity pension €400 payment taxable ?
Are Govt once off lump sums such as the just announced in the budget invalidity pension €400 payment taxable ?
C ClubMan Registered User Messages 53,037 10 Oct 2023 #2 What specific payment(s)? Budget 2024 Information about the Department of Social Protection's Budget 2024 www.gov.ie Invalidity pension is already assessible for tax so presumably any once-off additional payment will be too. Invalidity Pension Invalidity Pension is a social insurance payment that may be paid to people who cannot work because of a long-term illness or disability. www.citizensinformation.ie Tax and Invalidity Pension Invalidity Pension is a taxable source of income. The DSP informs Revenue that you are getting Invalidity Pension and the amount paid to you. Click to expand... Last edited: 10 Oct 2023
What specific payment(s)? Budget 2024 Information about the Department of Social Protection's Budget 2024 www.gov.ie Invalidity pension is already assessible for tax so presumably any once-off additional payment will be too. Invalidity Pension Invalidity Pension is a social insurance payment that may be paid to people who cannot work because of a long-term illness or disability. www.citizensinformation.ie Tax and Invalidity Pension Invalidity Pension is a taxable source of income. The DSP informs Revenue that you are getting Invalidity Pension and the amount paid to you. Click to expand...
R Roro999 Registered User Messages 390 10 Oct 2023 #3 Thanks Clubman. They give you 100% lump sum but take a slice back at 20% or 40% tax.
C ClubMan Registered User Messages 53,037 10 Oct 2023 #4 Roro999 said: Thanks Clubman. They give you 100% lump sum but take a slice back at 20% or 40% tax. Click to expand... Or 0% if you're under the tax exemption threshold.
Roro999 said: Thanks Clubman. They give you 100% lump sum but take a slice back at 20% or 40% tax. Click to expand... Or 0% if you're under the tax exemption threshold.