Prior to this budget, there had been rumours about possible changes to tax provisions in relation to private pensions. These rumours included the possibility of reducing tax relief to the standard rate of tax (currently 20 per cent) and taxing lump sums from pension schemes.
Thankfully, neither of these provisions were introduced in the budget, but finance minister Brian Lenihan said that the Commission on Taxation was examining the various aspects of pension tax treatment, including...
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