Tax relief

Rod Engelsman rodengelsman at ruraltel.net
Wed Feb 9 08:23:28 EST 2005


Tom Haskins-Vaughan wrote:

> I have a pension fund that I pay into. I pay 78.00 but get tax relief 
> at basic rate (22%) so actually 100.00 is deposited into my pension fund.
>
> My question is: is this tax relief an expense or an income?
>
> i.e. Expenses:Tax:Income Tax     -22.00
> or Income:Tax Relief                     22.00
>
> Cheers for any help.
>
> Tom

Who are you getting the tax relief from? Your employer? Then it's income
from the employer. I had the same sort of thing about twenty years ago
when AT&T paid for a household move. They re-imbursed me for the extra
taxes I would pay on the extra income, but *that* money was itself
taxable income as well.

Rod



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