I am advised by the Revenue Commissioners that the total value of subscriptions made to Special Savings Incentive Accounts (SSIAs) from commencement of the scheme in May 2001 until its ending in April 2007 was €11,384m and the total tax credit was €2,473m.
I am further advised by Revenue that 1,170,208 SSIAs were commenced by individuals in the period from its introduction up to the closing date of 30 April 2002.
The following table provides a breakdown of account holders' average monthly subscription levels.
Monthly subscription level
|
%
|
€12.50 (Min) - €59.99
|
18
|
€60 - €149.99
|
25
|
€150 - €249.99
|
15
|
€250 - €254 (Max)
|
42
|
Information on the employment status of account holders was not required for the successful administration of the scheme. However, where it was possible to match information on SSIA holders with the Revenue income distribution tables for the relevant tax year, the following was the estimated position.
Income Range
|
Estimated % of Account Holders
|
< €20,000 per annum
|
24
|
€20,000 - €50,000 per annum
|
49
|
> €50,000 per annum
|
27
|
(estimates based on 2004 incomes)
In the time available, it has not proved possible to compile material on the final part of the Deputy's question. I will arrange for a response to be provided to the Deputy as soon as possible in that regard.