Written answers

Wednesday, 25 November 2015

Photo of Finian McGrathFinian McGrath (Dublin North Central, Independent)
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78. To ask the Minister for Finance the cost of increasing group B of capital acquisitions tax from €30,175 to €33,000 per year; and if he will make a statement on the matter. [42016/15]

Photo of Michael NoonanMichael Noonan (Minister, Department of Finance; Limerick City, Fine Gael)
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I assume that the Deputy is referring to the annual cost of increasing the Capital Acquisitions Tax category B threshold, which applies to gifts and inheritances from brother, sister, niece, nephew or grandchild, from the existing threshold of €30,150 to €33,000.

I am advised by the Revenue Commissioners that the cost of increasing the category B threshold to €33,000 would be approximately €7 million on a full year basis and €6 million on a first year basis.

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