Will ISA's be coming to Ireland anytime soon?

[joe sod]

Hopes for Irish ETF tax changes as fund value expected to reach €3 trillion here by 2029

The Irish funds industry is hopeful government ministers will move to tweak the tax treatment of exchange-traded funds (ETFs).

www.ey.com

a good analysis of the funds industry calls on government for reforms of exit tax regime from the point of view of Ireland having 70% of the european ETFs domiciled here worth trillions yet irish retail investors are a tiny proportion of that. The most important change needs to be the abolition of deemed disposal completely.

 

[ashambles]

think any need of that kind would be met in a much more simple and straightforward fashion by allowing early access to pension funds in the case of people who are laid off in their 50s, etc. Having two separate savings vehicle would make people choose, at the time they were putting money in, whether they were saving for retirement or for unforeseen life events occurring pre-retirement, and it's in the nature of unforeseen life events that you can't know in advance whether, or how much, provision it is optimal to make for them. You'd be forcing people to commit to one or other in advance for no good reason.

The UK has pensions and ISAs, Denmark has tax efficent investment accounts and pensions.

Right now people already choose to decide to keep money in cash versus directing it to a pension. Irish households have a lot of cash on deposit - that is where Irish people invest for unforseen life events.

Due to the tax relief on the way in Revenue and the DoF will be reluctant to give flexible access to pensions. What we need is a way to invest without tax relief on the way in, but is otherwise tax efficient.