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Options for DIRT on a Term Investment

  • 19-06-2007 7:05pm
    #1
    connundrum
    Registered Users, Registered Users 2 Posts: 5,563 ✭✭✭


    How do,

    I've a 5 year investment with Irish Life which to date has produced a bit of a profit, and it is due to mature Aug 2008.

    Now I vaguely recall chatting to the investment 'specialist' and mentioning that I might be in Australia when the investment matured - that was a ficticious plan. Anyway, he said something about - If I have my moneh lodged into a foreign bank account ie. an Australian bank account, then I'd be liable for much less than the standard Irish DIRT rate.

    Is this true?

    Now please understand that I'm not looking to escape anything here and have always been upfront with regards to tax issues, but myself and the missus were considering a 3-4 month stint in Europe next summer, and I was wondering if the above situation would be possible?

    I realise that on entering the country, I would probably be liable for the balance of tax, but then at least the overall sum would be smaller.

    I dunno, any ideas?


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