S.L. 123.200 Art. 2Interpretation. Cap. 123. Cap. 318. Cap. 594.

In these rules, unless the context otherwise requires:

"the Act" means the Income Tax Act;

"basic weekly wage" means the basic weekly wage or the weekly equivalent of the basic monthly salary as determined for the purpose of calculating the rate of class one contributions payable by an employed person in terms of the Tenth Schedule to the Social Security

Act;

"full-time employment" means a full-time employment registered as such with Jobsplus established under the Employment and Training Services Act;

"managerial post" means a post of employment of a person who is a director of the company or a partner of the partnership with which he is employed or who is an officer with managerial functions;

"overtime" means hours of work performed by an individual in the course of a full time employment in excess of his normally scheduled working hours and for which he is entitled to remuneration over and above his basic weekly wage;

"qualifying overtime" means overtime performed in the course of a full time employment during a period while -

(a) the rate of basic weekly wage for that employment does not exceed three hundred and seventy-five euro (€375) per week; and

(b) the post in which that individual is engaged in terms of the said full time employment is not a managerial post;

"qualifying overtime income" means income derived on or after 1 January 2020 as remuneration for the performance of qualifying overtime but subject to the limitations provided for in rule 3.