Michael Ring (Mayo, Fine Gael)
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Question 188: To ask the Minister for Finance if persons who joined the SSIA scheme in 2001 when they were residing here but who have moved abroad since and are still paying in to a SSIA will receive the same benefits in the scheme at the end of the five year term. [13720/05]

Brian Cowen (Laois-Offaly, Fianna Fail)
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The SSIA legislation contained in part 36A of the Taxes Consolidation Act 1997, as inserted by section 33 of the Finance Act 2001, requires inter alia that, in order for a saver to get full benefits from his or her SSIA account, he or she must be resident in the State for tax purposes when the SSIA is commenced and, at all times during the term of the SSIA, is either resident or ordinarily resident in the State.

A person is regarded as resident in the State if he or she has spent 183 days in the State in a calendar year or leaves the State early in the year but has spent more than 30 days in the State in that year and between that year and the previous year has spent a total of at least 280 days in the State. A person is deemed to be ordinarily resident in the State for each of the three years after the year in which he or she was last resident in the State. Where the resident/ordinarily resident requirement is satisfied, the saver gets the full benefits of the scheme. Where this requirement is not satisfied, the person is required to close the SSIA and the value of assets in the account is taxed at 23%.

Any person wishing to clarify their resident/ordinarily resident position may contact the Revenue Commissioners' SSIA help line — LoCall: 1890 463626 or 00353 61 48 8000.