Which statement about DIRT exemption criteria is NOT correct?

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Prepare for the QFA Investments Exam 1. Study with flashcards and multiple-choice questions with detailed explanations. Enhance your understanding and succeed on your exam!

Multiple Choice

Which statement about DIRT exemption criteria is NOT correct?

Explanation:
DIRT exemption is available if you meet any one of several independent criteria, not all three at once. Being 65 or over is one route to exemption, as is having total income below €18,000, or having total deposits below €100,000. If you satisfy any one of these conditions, you may avoid DIRT on your deposit interest (subject to the applicable limits). The idea that all three must be satisfied together is incorrect, because the criteria are separate paths to exemption rather than a single composite test.

DIRT exemption is available if you meet any one of several independent criteria, not all three at once. Being 65 or over is one route to exemption, as is having total income below €18,000, or having total deposits below €100,000. If you satisfy any one of these conditions, you may avoid DIRT on your deposit interest (subject to the applicable limits). The idea that all three must be satisfied together is incorrect, because the criteria are separate paths to exemption rather than a single composite test.

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