Tax relief

[Bill Wisse]

On Tuesday 08 February 2005 23:13, 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

Hi Tom

I see it like this:

You put yourself $78.00 in this account.
Another $22.00 comes from somewhere else.

Does it come from the tax what your employer withholds of your salary?
If so, it is a non taxable income. (IMO).

-- 



Greetings from
/bill at 169 west , 19 south.  
Disclaimer: Any errors in spelling, tact, or fact are
transmission errors."