What are the options?
At present New Ross Credit Union offer share accounts to members. Every member is required to pay tax at their marginal tax rate on dividends they receive on their accounts. You, the members, can now choose the option(s) that suit you best, which are as follows:
If you have a Share Account, you are currently required to declare the dividend you receive to the Revenue Commissioners and are liable to pay tax on it at your marginal tax rate of 41%. Under the new proposals you can continue to save in this way.