Damien English (Meath West, Fine Gael)

I accept it is treated as an income and that it can be used by banks to reward staff. The Minister said it is a band, so if the market rate is 4.75% and the employee gets the loan at 4%, does he or she pay the tax on the difference of 0.75% or up to the 5.5% at which it is being set? It is not very clear from the way it is written.

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