Michael McGrath (Cork South Central, Fianna Fail)
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81. To ask the Minister for Finance the cost of introducing an earned income credit as recommended by the Commission on Taxation for the self-employed and be equal to the PAYE allowance; and if he will make a statement on the matter. [36396/14]

Michael Noonan (Limerick City, Fine Gael)
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I am advised by the Revenue Commissioners that the cost to the Exchequer of extending the PAYE credit to the self employed and proprietary directors is estimated at €470 million in a full year.

These figures are estimates for 2015 from the Revenue tax forecasting model using the latest actual data for the year 2012, adjusted as necessary for income, self-employment and employment trends in the interim. They are, therefore, provisional and may be revised. A married couple or civil partners who have elected or have been deemed to have elected for joint assessment is counted as one tax unit.  

Michael McGrath (Cork South Central, Fianna Fail)
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83. To ask the Minister for Finance if he will amend capital gains tax restructuring relief to provide for the relief from capital gains tax whereby a person sells two separate holdings to consolidate into one holding; and if he will make a statement on the matter. [36398/14]

Michael Noonan (Limerick City, Fine Gael)
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A relief was introduced in Finance Act 2013 on disposals of farm land for farm restructuring, subject to a Commencement Order, which I made on 6 June 2013.  The terms of the relief are set out in Section 604B, Taxes Consolidation Act 1997.    

The relief applies to a sale, purchase or exchange of agricultural land in the period from 1 January 2013 to 31 December 2015 where Teagasc has certified that the sale and purchase or an exchange of agricultural land was made for farm restructuring purposes. The initial sale or purchase, or the exchange, must occur in the relevant period and the subsequent sale or purchase must occur within 24 months of that sale or purchase.

Full relief from capital gains tax will be given where the consideration for the purchase or the exchange is equal to or exceeds the consideration for the sale or the other land that is exchanged. Where the consideration for the purchase or the exchange is less than the consideration for the land that is sold or the other land that is exchanged, relief will be given in the same proportion that the consideration for the land that is purchased or exchanged bears to the consideration for the land that is sold or the other land that is exchanged.

Provision is made for the clawback of the relief where qualifying land in respect of which relief has been given is disposed of within 5 years of the date of the purchase or exchange of that land. A clawback does not apply where the disposal arises under a compulsory purchase order.

A prerequisite to any disposal and acquisition of farm land qualifying for this relief is that an application for a farm restructuring certificate is made to Teagasc and that Teagasc grants such a certificate (that has not been withdrawn).  Guidelines relating to the application for, and the issue of, a Farm Restructuring Certificate are available on the Department of Agriculture, Food and the Marine's website.

The purpose of the relief is to ensure that the sale and purchase of farm land together lead to a reduction in the distance between parcels of land comprised in a farm, thereby leading to an improvement in the viability of the consolidated farm. Depending on the circumstances in any particular case, it may be that the disposal of two separate holdings of land and their replacement with a single holding of equal value may qualify as farm restructuring for the purposes of this relief. This would be a matter for Teagasc to consider in the first instance by reference to the full facts being known.

The farm restructuring relief is one of the measures under consideration in the context of the AgriTaxation Review which I announced in my Budget 2014 speech. The review is be completed shortly and its report is expected to be published around Budget Day. It would not be appropriate for me to comment further in advance of the completion of the review.

Michael McGrath (Cork South Central, Fianna Fail)
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86. To ask the Minister for Finance the cost of increasing the standard rate band from the current €32,800 by €500, €1000, €1,500 and €2,000 respectively; and if he will make a statement on the matter. [36401/14]

Michael Noonan (Limerick City, Fine Gael)
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I assume that the Deputy refers to an extension of the standard rate income tax band, which would apply similarly to single and widowed persons, as well as to single person child carers. The proposed extension to the standard rate band is assumed to also apply to married couples and civil partnerships. On this basis, I am informed by the Revenue Commissioners that the full year cost to the Exchequer, estimated by reference to 2015 incomes, of increasing the standard rate tax band by €500, €1,000, €1,500 and €2,000 while also maintaining the current monetary differences between the single persons standard rate band and the various other classes of tax bands, is as follows: