Grab Tax Benefits Now: Boost Your Pension Savings!
We’ve got some great news that’ll help you keep more money in your pocket. So settle in, and let’s talk about how you can make the most of tax relief through your pension contributions.
We understand that life can get pretty busy, and sometimes, financial decisions take a back seat. But guess what? You’ve got a fantastic opportunity to catch up and make your money work harder for you. Let’s break it down:
Calling all PAYE workers and company pension plan members, if you missed the chance to put money into your pension in 2022, don’t worry. You can still do it and get those valuable tax benefits. Yes, it’s true – you have until October 31st, 2023 for paperwork returns or November 15th 2023 if doing it online, to contribute to your pension for the previous year, in this case, 2022.
If you thought you missed the opportunity to start a pension, think again. The tax relief available might just surprise you, and the good news is that it’s not too late to get started.
You’re in Control of the Timing
Whether you’re juggling mortgage payments or just need a bit of breathing room, you’re in charge. You can begin your pension contributions in January or February next year, or at any point in 2024 that suits you.
If you’re in the higher income tax bracket, this news is especially exciting. Contributing to your pension can lead to significant tax savings. Imagine this: You put €10,000 into your pension, and the Revenue Commissioners might send you €4,000 back. That’s a real win!
Self-employed? listen up. You’re about to face a tax bill in October for last year’s earnings. But there’s a silver lining. Start making pension contributions now, and not only will you reduce your tax bill, but you’ll also secure your financial future.
So, what are you waiting for? Seize this chance to contribute to your pension, travel back in time a bit, and receive a check from the Revenue Commissioners – it’s a win-win situation you won’t want to miss out on.
Don’t delay in making that pension contribution any longer. Your financial future is calling, and there’s no time like the present (or even the past) to make your money work smarter for you.