Pensioner

Introduction

For the pensioner

What is Needed?

• Submit a completed Tax Declaration Form 1 (TD-1) to the party making the pension payment.

  Where pension is received from two or more sources the TD-1 form must be submitted to the Inland Revenue Division for prior approval. The Board of Inland Revenue would issue directives to each party indicating the amount of tax to be withheld from each payment.

• Where the correct tax has been withheld from pension payments and you are not in receipt of income from any other source, you are no longer required to submit an Income Tax Return