Written answers
Thursday, 25 November 2010
Department of Finance
Tax Code
5:00 pm
Richard Bruton (Dublin North Central, Fine Gael)
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Question 80: To ask the Minister for Finance in the context of the rates at which child benefit is paid, his estimate of the savings the could be made if this was subject to income tax or if it was subjected to the income levy 2% up to 75,036 and if the administrative requirements to subject this payment to tax have been worked out. [44614/10]
Brian Lenihan Jnr (Dublin West, Fianna Fail)
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I am informed by the Revenue Commissioners that the estimated full year yield, based on projected 2011 incomes, from treating Child Benefit as subject to (a) income tax at €326 million (b) the income levy at €26 million. The taxation of Child Benefit, as it is currently administered, is not a straightforward matter. There are legal, equity and administrative issues that would need to be overcome before the taxation of this payment could be introduced. These issues are being examined in my Department.
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