Save tax while you save for your pension
Are you self employed?
If the answer is yes, October 31st, (or November 16th if you file and pay using ROS) is the date by which you must finalise your Tax assessment for the 2008 tax year. Your preliminary tax liability for 2009 is also fast approaching. Chances are you will have to draw another substantial cheque payable to the taxman.
Any time between now and October 31st would normally the opportune time to review your retirement - planning situation. Are you sure you are maximising the excellent incentives to reduce your tax bill.
From August 1st this year the Government proposes to introduce a 1% levy on payments to life assurance products, including pension contributions. There are still negotiations taking place between the Dept of Finance and the Insurance Institute over the implementation. Some insurance companies are paying the levy until a final decision is made.
Talk to us today to avail of this saving opportunity.
