There will be fewer Prize Bond millionaires from next month – following a decision to reduce the number of top prizes. The change will see the €1m prize being paid out only four times a year to those who having winning prize bonds. This is down from six top prizes a year.
And the range of interest rates on State Saving schemes sold by An Post have also been radically reduced. The move is part of a wide-ranging slashing of interest rates on State Saving schemes, many of which are tax free.
Read Charlie Weston’s article in Irish Independent http://www.independent.ie/irish-news/prize-bond-awards-slashed-along-with-state-savings-interest-rates-34775231.html
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On the issue of State Savings. I understand that some of the Tax Free Saving Schemes are subject to DIRT. Can this be clarified
In relation to your query if the scheme is free of tax it has to be free of Dirt because dirt is actually a tax.
I think the best thing to do is get the brochure or any other publications for the scheme look at it carefully and see what precisely does it say.If you need further clarification after that revert to me. Gen Sec.