Pearse Doherty (Donegal South West, Sinn Fein)
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178. To ask the Minister for Finance the amount that could be raised for the Exchequer from the introduction of a third rate of tax of 48% on an individual’s income in excess of €100,000 per annum. [20060/13]

Michael Noonan (Limerick City, Fine Gael)
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It is assumed that the threshold for the proposed new tax rate mentioned by the Deputy would not alter the existing standard rate band structure applying to single and widowed persons, to lone parents and married couples. On that basis, I am advised by the Revenue Commissioners that the estimated full year yield to the Exchequer, estimated by reference to 2013 incomes, of the introduction of a new 48% income tax rate would be of the order of €365 million. However, given the current band structures, major issues would need to be resolved as to how in practice such a new rate could be integrated into the current system and how this would affect the relative position of different types of income earners.

This figure is an estimate from the Revenue tax-forecasting model using latest actual data for the year 2010, adjusted as necessary for income and employment trends in the interim. It is, therefore, provisional and subject to revision.

Pearse Doherty (Donegal South West, Sinn Fein)
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179. To ask the Minister for Finance the amount that would be raised for the Exchequer by raising the rate of Capital Gains Tax from 33% to 40%. [20061/13]

Michael Noonan (Limerick City, Fine Gael)
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I am advised by the Revenue Commissioners that the full year yield to the Exchequer, estimated in terms of expected 2013 gains, from increasing the CGT tax rate from 33% to 40% could be in the region of €109 million. This figure includes corporate gains. However, this estimate assumes no behavioural changes on the part of taxpayers, and increases in rates may have a significant behavioural impact and may not produce a corresponding increase in tax yield. In current economic conditions any estimate of additional yield must be treated with caution. In addition, increasing the rate could, in theory, lead to a reduction in yield from the tax.

Pearse Doherty (Donegal South West, Sinn Fein)
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180. To ask the Minister for Finance the amount that would be raised for the Exchequer by raising the rate of Capital Acquisitions Tax from 33% to 40% and lowering the thresholds to €187,000 for the child/parent category, €25,000 for the lineal ancestor category and €12,500 for the any other person category. [20062/13]

Michael Noonan (Limerick City, Fine Gael)
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I am advised by the Revenue Commissioners that the estimated full year yield to the Exchequer from increasing the Capital Acquisitions Tax rate by 7% to 40 %, based on the expected outturn in 2013, could be in the region of €63 million, assuming no change in the existing thresholds. The current group tax free threshold amounts for Capital Acquisitions Tax (CAT) are: €225,000 for group A (gifts/inheritances from parents to children), €30,150 for group B (gifts/inheritances from grandparents to grandchildren, from uncles/aunts to nieces/nephews, and between siblings) and €15,075 for group C (all other gifts/inheritances). I am advised by the Revenue Commissioners that the additional full year yield from existing taxpayers from reducing the thresholds for CAT to €187,000 for Group A, €25,000 for Group B, and €12,500 for Group C, as compared with the current thresholds, and applying the proposed rate of 40% to the additional amounts thus brought into charge is estimated to be of the order of €31 million.

Revenue do not receive information on gifts and inheritances which currently do not have to be declared so it is not possible to estimate the potential yield if such benefits were brought into the tax net.

It should be noted that these estimates are based upon an assumption that there would be no behavioural impact of these changes, which could lead to a less than expected impact on Exchequer yield. In addition, the realisation of any estimated yield from an increase in taxation on assets relating to property is subject to movements in the value of such assets, which are currently occurring in the economy.

Pearse Doherty (Donegal South West, Sinn Fein)
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181. To ask the Minister for Finance if he will provide an estimate of the amount that would be raised for the Exchequer if the Capital Gains Tax and Capital Acquisitions Tax were applied to transfers between spouses. [20063/13]

Michael Noonan (Limerick City, Fine Gael)
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I am informed by the Revenue Commissioners that figures are not captured in such a way as to provide a dedicated basis for compiling estimates of the impact on the Exchequer from the measure proposed in this question. Accordingly, the specific information requested by the Deputy is not available.