Hi,
Just a few questions about Quinn Life Freeway Funds please, as I am new to investing.
First off, these savings funds are structured as life assurance policies, what does this mean in comparison to a regular savings fund?
What is the difference with funds which buy "units" as opposed to buying shares directly?
It states that the exit tax on encashment is 23%, but I thought I saw something before about life assurance policies being taxed @ 40%, which is correct? Any other tax issues?
How are dividends handled, are they reinvested back into the fund and are you required to pay income tax separately on these?
These may be basic questions but one can only learn by asking. Really would appreciate any feedback.
Thanks
Just a few questions about Quinn Life Freeway Funds please, as I am new to investing.
First off, these savings funds are structured as life assurance policies, what does this mean in comparison to a regular savings fund?
What is the difference with funds which buy "units" as opposed to buying shares directly?
It states that the exit tax on encashment is 23%, but I thought I saw something before about life assurance policies being taxed @ 40%, which is correct? Any other tax issues?
How are dividends handled, are they reinvested back into the fund and are you required to pay income tax separately on these?
These may be basic questions but one can only learn by asking. Really would appreciate any feedback.
Thanks