I am informed by the Revenue Commissioners that they collect data on an ongoing basis on the estimated costs and the numbers who avail of the main tax reliefs allowable under various legislative provisions.
The Deputy's question relates to subsection 774(7)(d) of the Taxes Consolidation Act 1997. Under this provision, pension contributions that are not relieved from tax in the year in which they are paid, due to a restriction on the maximum percentage of an employee's yearly remuneration in respect of which relief can be granted, are carried forward to a subsequent tax year or years and treated as having been paid in the later year or years. I set out full details of the operation of the annual restriction on pension contributions and the carry-forward procedure in my response to the Deputy's previous questions in this matter on 20 April last.
While details of amounts carried forward in the manner described are not separately identifiable, the cost of the relief for such amounts is captured in the overall figure for relief in respect of payments made, and treated as made, in each year.