Oireachtas Joint and Select Committees
Tuesday, 7 November 2023
Select Committee on Finance, Public Expenditure and Reform, and Taoiseach
Finance (No. 2) Bill 2023: Committee Stage
Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source
There are no data available on the uptake or cost to date of the scheme as the income qualifying under section 2160D of the Taxes Consolidation Act is not required to be declared by individuals on their tax return on the basis that there are potentially 55,500 eligible claimants. A typical claimant could expect to be paid approximately €300. We estimate that the annual cost to the Exchequer of the tax exemption in its current form is in the order of €3.6 million. That is assuming that 30% of taxpayers are at 50%, 60% are at 30% and 10% are exempt.
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