Revenue announced in eBrief No. 61/09 that tax relief on pension contributions will be available for 2008 in respect of contributions paid by individuals up to the return filing date, where election is received on or before 31 December 2009. The individual claiming the relief must be retiring in the year in which the contributions are paid.

Revenue has acknowledged that individuals who are not regarded as chargeable persons may overlook the final date (the return filing date 31 October or the extended deadline for ROS customers) for making an election to treat contributions as paid in the earlier yearof assessment. Where such individual is close to retirement he/she may have insufficient income in the year in which the contributions are paid to absorb the full amount of the contribution. Carrying forward the unrelieved contributions is also not an option where the individual retires in the year the contribution is paid.

Having considered the above matter, Revenue have announced that they will treat elections made as timely where certain conditions as outlined in eBrief No. 61/09 are met.

Ebrief No. 61/09 is available at 2.03.