asked the Minister for Finance the amount of social welfare contributions deductible for income tax purposes at present; and the statutory authority, and regulations, under which this allowance is made.
Written Answers. - Income Tax Allowance for Social Welfare Contributions.
163.
Section 224 of the Income Tax Act, 1967 provides that social insurance contributions may be taken into account in computing Income Tax liability in so far as they are related to widow's (contributory) pension, orphan's (contributory) allowances and old age (contributory) pension. Under the same section, so much of an employee's contribution as is determined by the Minister for Social Welfare to be referable to these benefits is allowable as a deduction in computing income for Income Tax purposes.
The following table shows the amounts allowable at present under the section to each of the several classes of contributor under the Social Welfare Acts—
|
Class of contributor under Social Welfare Acts |
Total weekly rate of contribution by employee or voluntary contributor |
Amount of contribution deductible for Income Tax purposes under Section 224 Income Tax Act, 1967 |
||
|
s. |
d. |
s. |
d. |
|
|
EMPLOYED CONTRIBUTORS: |
||||
|
Male, Ordinary |
9 |
0 |
4 |
1 |
|
,, Agricultural |
6 |
9 |
2 |
10½ |
|
,, Permanent and pensionable Civil Servants, Teachers, Officers of Local and Public Authorities, Commissioned Officers of the Permanent Defence Forces, etc., who are compulsorily insured for Widows' and Orphans' pensions only |
2 |
0 |
2 |
0 |
|
,, Sharefishermen and Outworkers (other than certain Weavers) |
4 |
8 |
2 |
8½ |
|
Female, Ordinary |
7 |
11 |
3 |
5½ |
|
,, Domestic |
6 |
2 |
3 |
5½ |
|
,, Agricultural |
5 |
5 |
2 |
8½ |
|
,, Outworkers |
4 |
8 |
2 |
8½ |
|
Members of the Defence Forces, other than commissioned officers and permanent Army Nurses |
7 |
3 |
4 |
1 |
|
Temporary members of the Army Nursing Service |
7 |
3 |
3 |
5½ |
|
VOLUNTARY CONTRIBUTORS: |
||||
|
Persons insured for Widows' and Orphans' pensions only |
4 |
1 |
4 |
1 |
|
Persons insured for Old Age, Widows' and Orphans' pensions |
8 |
2 |
8 |
2 |