Dáil Éireann Debate, Thursday - 21 June 2018
78. Deputy Michael McGrath asked the Minister for Finance the cost by year of running the special savings incentive accounts for each of its operations; the number of SSIA accounts created; the average cost per account; and if he will make a statement on the matter. [27305/18]
Amharc ar fhreagraI am advised by Revenue that the total value of subscriptions made to Special Savings Incentive Accounts (SSIAs) from commencement of the scheme in May 2001 until the ending of the incentive 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 for applications of 30 April 2002. Over the six year lifetime of the scheme, the average running cost was approximately €412m per year. The average account cost was approximately €2,100, which was approximately €350 per account, per year.
The following table provides a percentage 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 |
