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Dáil Éireann debate -
Tuesday, 29 May 1984

Vol. 350 No. 12

Written Answers. - Taxation of Annuity.

516.

asked the Minister for Finance the reason a person (details supplied) in Dublin 3 is being taxed at a rate of 35 per cent on an annuity from Irish Life Assurance as he is below the exemption limit on income tax, details of which should be available from the Kilkenny tax office.

The Revenue Commissioners have advised me that on 22 March 1983 the inspector of taxes requested the taxpayer to supply certain details concerning interest arising from moneys on deposit so that his tax position for the years 1981-82 and 1982-83 could be determined. However, as there has been no response from the taxpayer the inspector has written to him again for the required information and, when this is supplied, the taxpayer's affairs will be brought up to date.

On receipt of the details requested the inspector will examine the position and, if appropriate, he will arrange with the Irish Life Assurance Company to make future payments of the purchased life annuity to the taxpayer without deduction of income tax.

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