Financial Resolutions, 2002. - Financial Resolution No. 2: Income Tax.
(1) THAT, as respects the year of assessment 2002 and subsequent years of assessment, Part 30 of the Taxes Consolidation Act, 1997 (No. 39 of 1997) be amended by inserting, in Chapter 4, the following after section 790–
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“Limit on relief under this Part. |
790A.–Notwithstanding anything in this Part, for the purposes of giving relief to an individual under–(a) Chapter 1 of this Part in respect of an employees contribution to a retirement benefits scheme, |
(b) Chapter 2 of this Part in respect of a qualifying premium under an annuity contract, and
(c) Chapter 2A of this Part in respect of a PRSA contribution, the aggregate of the amounts of the individuals–
(i) remuneration (if any) within the meaning of that Chapter 1,
(ii) net relevant earnings (if any) within the meaning of that Chapter 2, and
(iii) net relevant earnings (if any) within the meaning of that Chapter 2A,
shall not exceed €254,000, but this section shall not apply in respect of any such employees contribution, qualifying premium or PRSA contribution made before 4 December 2002.".
(2) IT is hereby declared that it is expedient in the public interest that this Resolution shall have effect under the provisions of the Provisional Collection of Taxes Act, 1927 (No. 7 of 1927).