Taxes Consolidation Act 1997 section 498

Qualifying investment (investor perspective)

Section 498 specifies what constitutes a qualifying investment from the investor's perspective for the purposes of the employment investment incentive scheme (EIIS).

• A subscription for eligible shares by an individual in a qualifying company must be at least €250 in a year of assessment to be a qualifying investment.
• Where a married person or nominated civil partner is assessed to tax under joint assessment, amounts subscribed by their spouse or civil partner for eligible shares are treated as having been subscribed by the assessed individual.
• This aggregation means that a couple's combined subscriptions in the same company in the same year are attributed to the individual making the return.
• The €250 minimum threshold and the spousal attribution rule together determine whether a valid qualifying investment exists for the purpose of claiming EIIS relief.