Everything you need to know about new State-backed investment account announced in Budget 2027
In this news:
Key takeaways
- Finance Minister Simon Harris announced a new Irish Investment Account launching in July 2027.
- The account features a €50,000 tax-free threshold with a €12,000 annual contribution limit.
- Crypto assets and derivatives are excluded from the list of eligible investments.
Finance Minister Simon Harris has announced a new Irish Investment Account, designed to “make investing simpler”, which is set to launch next year.
The new Irish Investment Account will feature a tax-free threshold of €50,000 and a flat tax of one per cent on the value of the account above that threshold. There is no minimum contribution and the maximum is €12,000 per year. The account is scheduled to open on July 1, 2027. Account holders will not be required to submit a tax return to Revenue, as the responsibility for administering the account will rest with the account provider.
Finance Minister Simon Harris said: “As an example, if an account were to be valued at €2,000 above the threshold, in other words €52,000, the tax payable for that year would only be €20.”
He added: “The contribution limit of €12,000 in combination with the tax-free threshold means it is extremely unlikely that any tax will be due in the first few years following the opening of an account, even where the maximum contribution is made.”
Eligible investments will include listed shares, listed bonds, financial instruments traded on a regulated market, and a range of investment funds suitable for retail investors. However, risky or complex products, including derivatives and crypto assets, will not qualify.
Mr Harris stated the Government aims to make “investing simpler, clearer and more accessible to people”. Given the maximum contribution of €12,000 and the tax-free threshold of €50,000, Mr Harris explained “it is extremely unlikely that any tax will be due in the first few years following the opening of an account, even where the maximum contribution is made”.
The accounts will be provided by regulated financial services providers meeting specific criteria, including investment firms, fund managers, life insurance companies, credit institutions/banks and certain trading platforms. Anyone aged 18 or over with a PPS number and Irish tax residency will be eligible to open an account.
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