January 2023 – Eolas Money

Month: January 2023

Helping you on Life's Financial Journey

Taxing of Lump Sum Termination Payments

With recent news of redundancies in tech sector, below is an overview of the tax treatment applying to lump sum payments received on cessation of employment as certain payments may attract tax exemptions. Statutory Redundancy Payments: Where you receive a statutory redundancy payment the amount received is ignored for taxation purposes as statutory redundancy is completely…
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Retirement Funding Update 2023

Finance Act 2022 was passed on 15 December 2022 and the new BIK free employer PRSA contributions are now in force since 1 January 2023. A Brief Summary of the changes as follows: Prior to 01st January 2023, an employer contribution paid to an employee or Director’s PRSA was a deemed to be a Benefit…
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