MT
TAX REBATE (PENSIONERS) RULES (pensioners)
Table of Provisions (6)
Statutory Text (6 Articles)
TAX REBATE (PENSIONERS)
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.
The title of these rules is the Tax Rebate (Pensioners) Rules.
(2) These rules shall be deemed to have come into force with
respect to income earned on or after the 1st January 2017.
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.
(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 = (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
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
Tax rebate = [(chargeable income less 15,000)
multiplied by 15%] less rebate under paragraph (a)
Provided that such rebate shall not exceed €540.
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.