Written answers
Thursday, 12 March 2015
Department of Finance
Tax Credits
Robert Troy (Longford-Westmeath, Fianna Fail)
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85. To ask the Minister for Finance the cost of providing a child tax credit, in respect of each child under 18 years of age, at a rate of €300 a year; and if he will make a statement on the matter. [10761/15]
Michael Noonan (Limerick City, Fine Gael)
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I am advised by the Revenue Commissioners that the estimated cost to the Exchequer of providing a child tax credit at an annual rate of €300 is in the order of €240 million.
These figures are estimates from the Revenue tax forecasting model using latest actual data for the year 2012, adjusted as necessary for income, self-employment and employment trends in the interim. They are estimated by reference to 2015 incomes and are provisional and may be revised.
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