Members have the following choices in the way they would like the taxation of their dividend to be treated:

Regular Share Account Members holding a Regular Share Account are (and always have been) required to declare any dividend they receive to the Revenue Commissioners in their annual Return of Income. Members can receive their income on a gross basis and make their returns to Revenue as normal. Depending on their circumstances, they may have no DIRT liability.

Special Share Account DIRT at 20% is deducted by the credit union from any dividend paid into a Special Share Account. Once DIRT has been deducted, the member has no further tax liability on this dividend.

Special Term Accounts The Special Term Account offers a tax efficient savings option to credit union members, subject to certain terms and conditions There are two types of Special Term Account, a Medium Term Account and a Long Term Account. Dividend or interest earned on these accounts is tax-free up to certain limits. To qualify for the tax benefits, funds must be left in the accounts for either three years (Medium Term) or five years (Long Term). There are tax penalties for early withdrawal of funds. Please contact for more detailed conditions attaching to these accounts.

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