Social Welfare and Pensions Act 2012

Reckonable earnings — amendment.

8.— Section 2(1) of the Principal Act is amended—

(a) by substituting the following definition for the definition of “reckonable earnings” (amended by section 13 of the Act of 2011):

“ ‘reckonable earnings’ means, subject to section 13(2)(da)—

(a) in the case of an employed contributor, not being a special contributor, emoluments derived from insurable employment or insurable (occupational injuries) employment (other than such emoluments that may be prescribed) to which Chapter 4 of Part 42 of the Act of 1997 applies, but without regard to Chapter 1 of Part 44 of that Act, and

(b) in the case of a special contributor—

(i) salaries, wages or other remuneration including non-pecuniary remuneration derived from insurable employment or insurable (occupational injuries) employment to which the Act of 1997 (other than Chapter 4 of Part 42) applies or would apply if the employed contributor in receipt of the remuneration were resident in the State, but without regard to Chapter 1 of Part 44 of that Act, and

(ii) payments to persons attending or engaged in courses or schemes provided or approved by—

(I) An Foras Áiseanna Saothair,

(II) Teagasc, or

(III) the National Tourism Development Authority,

and reckonable earnings shall include—

(A) share-based remuneration realised, acquired or appropriated, as the case may be, on or after 1 January 2011, and

(B) the ‘specified amount’ within the meaning of section 825C of the Act of 1997;”,

and

(b) by substituting the following definition for the definition of “reckonable emoluments” (amended by section 13 of the Act of 2011):

“ ‘reckonable emoluments’, in relation to a self-employed contributor, means emoluments (other than reckonable earnings and any other emoluments that may be prescribed) to which Chapter 4 of Part 42 of the Act of 1997 applies and reckonable emoluments shall include—

(a) share-based remuneration realised, acquired or appropriated, as the case may be, on or after 1 January 2011, and

(b) the ‘specified amount’ within the meaning of section 825C of the Act of 1997;”.