Taxes Consolidation Act 1997 section 848B

Interpretation

Section 848B defines the key terms used throughout the Special Savings Incentive Account (SSIA) provisions in this Part.

  • Qualifying assets that may be held in an SSIA include deposit accounts, credit union shares, units in investment undertakings, life assurance policies, quoted shares and government securities.
  • A qualifying individual must be at least 18 years of age and resident in the State at the time of opening the account.
  • Qualifying savings managers include banks, building societies, credit unions, the Post Office Savings Bank, investment undertakings, life assurance companies, stockbrokers and the NTMA.
  • A relevant life assurance policy held in an SSIA must not be capable of assignment or transfer and must not be issued as part of annuity or pension business.

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