S.L. 123.200 Art. 3Maximum qualifying overtime income.

The provisions of article 90B of the Act shall apply to qualifying overtime income derived by an individual in the year immediately preceding the year of assessment up to an amount not exceeding -maxhours x maxrate where:-

maxhours is the number of hours of qualifying overtime in respect of which the individual has derived qualifying overtime income in the year immediately preceding that year of assessment but not exceeding one hundred (100); and maxrate is the rate per hour at which remuneration is paid to that individual for overtime performed by him but not exceeding twice the hourly equivalent of the basic weekly wage: and for this purpose, the hourly equivalent of the basic weekly wage shall be calculated by dividing the basic weekly wage paid to that individual for the period during which the qualifying overtime in question is performed by forty (40):

Provided that with effect from the year of assessment 2023, the said provisions of article 90B of the Act shall apply to qualifying overtime income derived by an individual in the year immediately preceding the year of assessment up to an amount not exceeding:

(a) ten thousand euro (€10,000); and

(b) the amount resulting when the actual number of hours is multiplied by maxrate, where "the actual number of hours" means the actual number of hours of qualifying overtime in respect of which the individual has derived qualifying overtime income and "maxrate" is the rate defined above.