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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 7 November 2002 - onwards
  Version 3 of 3    

780. Charge to income tax on repayment of employees' contributions.

(1) In this section and in section 781, "employee", in relation to a statutory scheme, includes an officer.

(2) Subject to this section, tax shall be charged under this section on any repayment to an employee during his or her lifetime of any contribution (including interest on contributions, if any) if the payment is made under -

(a) a scheme which is or has at any time been an exempt approved scheme, or

(b) a statutory scheme established under a public statute.

(2A) This section shall not apply to the extent that any repayment of contributions is transferred by the administrator of the scheme to the administrator of a PRSA, by way of contribution to a PRSA to which the employee is the contributor.

(3) This section shall not apply where the employee's employment was carried on outside the State.

(4) Subsection (2)(a) shall not apply in relation to a contribution made after the scheme ceases to be an exempt approved scheme unless it again becomes an exempt approved scheme.

(5) Where an

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