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If you mean that you are thinking of borrowing money so that you can contribute that into your SSIA then you should note that borrowing to fund an SSIA is in breach of the rules and will jeopardise your account causing it to be terminated and taxed at 23% on the full amount once this comes to light.Zadig said:I was considering increasing the amount of the personal loan in order to continue paying the max amount into my SSIA while in college
If he said that then he was encouraging and/or facilitating tax evasion. This hits you, me and every other compliant taxpayer in the pocket. If I came across somebody doing this I would have no qualms about reporting them to the Revenue. This, and not some of the other stuff mentioned elsewhere, is a real "rip-off" in Ireland.eiregal said:He told me I should borrow the money if I had to as he said it was 'money for jam' - his words not mine.
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