Leo Varadkar (Dublin West, Fine Gael)
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Question 476: To ask the Minister for Finance the estimated cost of replacing the current stamp duty on residential properties with a new regime under which stamp duty is paid at 2%, 3% and 3.5% on all residential properties with no exceptions or exemptions; and if he will make a statement on the matter. [33203/10]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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It is assumed that the Deputy is asking about the potential yield or cost of applying either a 2%, 3% or 3.5% charge to all transfers of residential property, with no exceptions or exemptions. This change would reduce the Stamp Duty payable on higher value properties but would increase it on lower value properties. It would also mean that first time buyers would pay Stamp Duty.

I am informed by the Revenue Commissioners that based on the forecast residential Stamp Duty receipts for 2010, there would be a cost to the Exchequer by applying a 2% Stamp Duty rate or a 3% rate to all residential property transfers. In comparison, there would be an additional yield from applying a 3.5% rate.

The estimated full year cost of applying a 2% Stamp Duty to all residential property transfers would be €39 million; the full year cost from applying a 3% rate to all such transfers would be €2 million; and the full year additional yield from applying a 3.5% rate to all such transfers would be €16 million.

It is noted that this would reduce the Stamp Duty payable on higher value properties but would increase it on lower value properties. It would also involve first.

As Stamp Duty is very dependent on individual behaviour, any change in rate may not produce a corresponding increase or decrease in tax yield. Also, in current economic conditions any estimate of additional yield must be treated with caution.

Leo Varadkar (Dublin West, Fine Gael)
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Question 477: To ask the Minister for Finance the revenue that would accrue by granting income tax relief on pension at the effective tax rate for each individual rather than the marginal or standard rate; and if he will make a statement on the matter. [33194/10]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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An historical breakdown is available by tax rate of the tax relief claimed on contributions to personal pension plans — Retirement Annuity Contracts (RACs) and Personal Retirement Savings Accounts (PRSAs) — by the self-employed and others, to the extent that the contributions have been included in the personal tax returns of those taxpayers. The latest full historical data currently available in this regard is in respect of the tax year 2007.

A breakdown of the cost of tax relief on employee contributions to occupational pension schemes is not available by income tax rate, as tax returns by employers to the Revenue Commissioners of employee contributions to such schemes are not required for each individual employee and are aggregated at employer level.

There is, therefore, no statistical basis for providing full definitive figures.

Leo Varadkar (Dublin West, Fine Gael)
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Question 478: To ask the Minister for Finance the tax advantages, breaks, special reliefs and expenditures afforded to persons over the age of 65 years and the amount of revenue lost in each case; and if he will make a statement on the matter. [33162/10]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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The following is a summary of the main tax reliefs and credits available to taxpayers aged 65 or over.

Taxpayers aged over 65 years have an entitlement to an age tax credit of €325 if single and €650 if married and either spouse is over 65.

An exemption from income tax of €20,000 for a single person aged 65 years or over or €40,000 for a married couple where either spouse is aged 65 years. There are increases for qualified children.

Rent relief for persons over 65 years. Relief of €4,000 per annum at the standard rate is available for a single person or €8,000 for a married couple or widowed person.

An income levy exemption applies for persons aged over 65 years whose aggregate income for the year of assessment is less than €20,000 or €40,000 in the case of a married couple where either is over 65 years.

DIRT exemption for persons aged 65 years and over.

Where agricultural land is leased by a person aged over 40 years then income up to a limit between €12,000 and €20,000 is exempt from tax.

Age-related tax credit (ARTC) in relation to private health insurance premiums.

The table below sets out the costs to the Exchequer of the aged-related tax reliefs to the extent that they are available for the years indicated.

The costs for 2011 are estimates from the Revenue tax-forecasting model using actual data for the year 2008 adjusted as necessary for income and employment trends for the year 2011. They are therefore provisional and likely to be revised.

The medical insurance premia tax credit is part of a scheme designed to address the issues covered by the Supreme Court judgment of 2008 that found against the risk equalisation scheme for the provision of private health insurance.

The scheme is two-fold, an age-related tax credit to compensate for the higher cost of insurance for older persons, which is funded by a levy on health insurance companies based on the number of people covered by policies underwritten by them. This scheme is a temporary measure for three years from 1 January 2009 to 31 December 2011. It is intended that it will be revenue-neutral over its duration. Part of the cost of contributions to permanent health benefit schemes is not identifiable as a result of the move to a "net pay" basis for contributions by PAYE taxpayers from 6 April, 2001.

Leo Varadkar (Dublin West, Fine Gael)
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Question 479: To ask the Minister for Finance the cost of granting mortgage interest rate relief against income tax at 100 per cent up to a ceiling of €3,600 for a single person and €7,200 for a couple; and if he will make a statement on the matter. [33184/10]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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Unfortunately, it was not possible to collate the information required for this answer in the time allowed. I will provide the Deputy with the answer in writing in the coming days.