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SSIAs
were a five-year savings scheme in Ireland - which the Irish Exchequer
topped up, by way of a tax credit.
. For example, if you lodged €100 each month to your SSIA with your financial
institution, you are entitled to receive €25 each month by way of a tax
credit from the Exchequer. Your financial institution claimed this credit
on your behalf and lodged it to your SSIA each month
SSIAs commenced between 1 May 2001 and 30 April 2002 - NO MORE
ARE AVAILABLE . They all matured during the period 31 May 2006 to
30 April 2007.
When an
SSIA matured, only the profit earned from the investment of both the
subscriptions and Exchequer tax credits will be liable to tax at 23%.
In the case of an SSIA that is a deposit account this profit will be the
interest earned.
Invest
Your SSIA money - see Money Guide Ireland for details of the best
interest rates
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