# dirt tax on credit union account



## sooty (16 Sep 2008)

Is a childs account liable for dirt tax in the credit union - I save most of daughters children allowance into a credit union account for the future but wonder should I be completing the form to have them deduct the tax at source?


Thanks guys.


Sooty


----------



## ClubMan (16 Sep 2008)

sooty said:


> Is a childs account liable for dirt tax in the credit union


Yes - unless it is a special term account (exemption from _DIRT _up to certain limits) or a share account (dividends assessable for income tax). Come to think of it for a child the latter (share account) might be a better option since they will probably be exempt from income tax by being under the income tax exemption limit for earnings?


----------



## sooty (16 Sep 2008)

Yes I thought myself that it was liable to dirt tax but when i asked today in my local credit union they said no because she is under 16 - don't want to have a nasty dirt tax bill down the road,  I will ring the credit union head office.

Thanks.


----------



## ClubMan (16 Sep 2008)

I'm not aware of any _DIRT _tax exemption other than for certain over 65s. But I am not a tax expert.

*DE 1 DIRT-free Deposit Accounts for those aged 65 or over        ••••••••• *


----------



## reddeagle (18 Sep 2008)

Im currently living in the UK and paying UK tax. Should i be also paying DIRT tax on my savings accounts in Ireland.?



ClubMan said:


> I'm not aware of any _DIRT _tax exemption other than for certain over 65s. But I am not a tax expert.
> 
> *DE 1 DIRT-free Deposit Accounts for those aged 65 or over        ••••••••• *


----------

