[ S.L.123.174 TAX REBATE (PENSIONERS) 1 SUBSIDIARY LEGISLATION 123.174 TAX REBATE (PENSIONERS) RULES 1st January, 2017 LEGAL NOTICE 42 of 2017, as amended by Legal Notices 22 of 2018 and 11 and 326 of 2019, 460 of 2020, 27 and 220 of 2022, 49 of 2023 and 6 and 357 of 2024 and 52 of 2026. 1. The title of these rules is the Tax Rebate (Pensioners) Rules. Citation.
(2)These rules shall be deemed to have come into force with respect to income earned on or after the 1st January
- These rules shall apply to individuals who are in receipt of income from any pension chargeable to tax under article 4
(1)(d) of the Income Tax Act, hereinafter referred to as "the Act", and who were at least 61 years of age in the year when such pension was received. Scope. 3.
(1)In the case of an individual who is chargeable to tax at the rates specified in article 56
(1)(b) of the Act, but not at the rates specified in the provisos thereto, a tax rebate shall be allowed as a set-off against the tax on his chargeable income, as follows: Tax rebate. Amended by: L.N. 22 of 2018; L.N. 11 of 2019; L.N. 326 of 2019; L.N. 460 of 2020; L.N. 27 of 2022; L.N. 220 of 2022; L.N. 49 of 2023; L.N. 6 of 2024; L.N. 357 of 2024. Tax rebate = (pensions income less 12,000) multiplied by 15%: Provided that such rebate shall not exceed €696.
(2)In the case of an individual who is chargeable to tax at the rates specified in the second proviso to article 56
(1)(b) of the Act, a tax rebate shall be allowed as a set-off against the tax on his chargeable income, as follows: Tax rebate = (pensions income less 13,000) multiplied by 15%: Provided that such rebate shall not exceed €546.
(3)In the case of an individual who is chargeable to tax at the rates specified in article 56
(1)(
- a)of the Act (
- a)a tax rebate shall be allowed as a set-off against the tax on his chargeable income, as follows: Cap. 123. Amended by: L.N. 22 of 2018; L.N. 11 of 2019; L.N. 326 of 2019; L.N. 460 of 2020; L.N. 49 of 2023; L.N. 6 of 2024; L.N. 357 of 2024. Amended by: L.N. 22 of 2018; L.N. 11 of 2019; L.N. 326 of 2019; L.N. 460 of 2020; L.N. 49 of 2023; L.N. 6 of 2024; L.N. 357 of 2024. Tax rebate = (pensions income less 15,000) multiplied by 15%: Provided that such rebate shall not exceed €246 and (
- b)a further tax rebate shall be allowed against the tax on his chargeable income, as follows: Amended by: L.N. 22 of 2018; L.N. 326 of 2019. Tax rebate = [(chargeable income less 15,000) multiplied by 15%] less rebate under paragraph (a): Provided that such rebate shall not exceed €540. Amended by: L.N. 22 of 2018; L.N. 326 of 2019. 2 [ S.L.123.174 Limitation. Cessation of applicability. Added by: L.N. 52 of 2026. TAX REBATE (PENSIONERS)
(4)For the purpose of this rule, "pensions income" refers to the amount of pension income that is included in the total income.
- Any rebate allowable under rule 3 may not give rise to a refund or be available to be carried forward.
- These rules shall cease to apply with respect to income earned after the 31st December 2025.