Taxes Consolidation Act 1997 section 848V

Interpretation

Section 848V defines the key terms used throughout Part 36B, which deals with special savings incentive accounts (SSIAs) and related provisions.

  • Defines "administrator" for PRSAs, retirement benefits schemes and annuity contracts, subject to the override in section 848AD.
  • Defines "annuity contract" as an annuity contract or trust scheme (or part of one) approved by Revenue under section 784.
  • Defines "gross income" broadly as total income from all sources, including exempt income, before any allowances, losses, deductions or reliefs are applied.
  • Imports definitions for SSIA-related terms ("gross funds", "maturity date", "maturity statement", "maturity tax" and "net funds") from section 848H(5), and defines "special savings incentive account" by reference to section 848C.

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