Make sure you avail of your pension tax reliefs
|Age||% of income allowed for tax relief|
|The maximum amount of earnings taken into account for calculating tax relief is €115,000 per year.|
|60 or over||40%|
For example, John, a 50 year old male, with projected profits in his business of €100,000 decides to make a payment from his company to a company pension for his own benefit . This reduces the profit in the business by €100,000, thus reducing the corporation tax bill by €12,500 (12.5% x €100,000). In addition, he has now managed to transfer €100,000 of company wealth to his own private ownership.
If you are looking to make the most of the tax reliefs available for pension & retirement planning, Guardian Wealth can help. We have the skills and the team to provide expert retirement and pension planning advice. We can formulate a financial plan for you that achieves your personal and financial goals, and most importantly we can explain it to you in a clear and easy to understand manner.
We want to take the mystery out of retirement planning and give you a very clear understanding of what you need to do to make sure you achieve financial freedom in retirement.
How can we help you?
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