Written answers

Tuesday, 25 June 2013

Photo of Pearse DohertyPearse Doherty (Donegal South West, Sinn Fein)
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213. To ask the Minister for Finance the cost to the Exchequer of increasing the entry point to the 41% marginal tax rate for married couples with one earner to each of the respective amounts: €45,000; €47,000; €50,000; €55,000; €60,000 and €65,600. [30542/13]

Photo of Michael NoonanMichael Noonan (Limerick City, Fine Gael)
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It is assumed that the proposed increase would only apply to the married one-earner standard rate tax band and would not apply to the various other classes of standard rate tax bands such as the single and widowed persons, lone parents and married couples where both spouses have income. On this basis, I am advised by the Revenue Commissioners that the estimated full year cost to the Exchequer, estimated by reference to 2013 incomes, of increasing the married one-earners standard rate tax band to €45,000, €47,000, €50,000, €55,000, €60,000 and €65,600 would be of the order of €70 million, €110 million, €165 million, €245 million, €310 million and €375 million respectively.

These figures are estimates 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. They are, therefore, provisional and subject to revision.

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