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How to treat RA contributions which are not allowed as a deduction

Posted 29 March 2016

Buddy says:
25 March 2016 at 12:02

Can the excess amount of retirement contributions which are carried forward to tax years be offset against tax payable on lump sum pension payments?

TaxTim TaxTim says:
29 March 2016 at 13:15

Yes, you would deduct these portions from the lumpsum received before working out the tax amount.

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