Written answers

Tuesday, 27 November 2018

Photo of Pearse DohertyPearse Doherty (Donegal, Sinn Fein)
Link to this: Individually | In context | Oireachtas source

163. To ask the Minister for Finance the estimated cost of increasing the personal tax credit for the single, married, and so on credit by €50, €100, €200, €300, €400 and €500, respectively. [49007/18]

Photo of Paschal DonohoePaschal Donohoe (Dublin Central, Fine Gael)
Link to this: Individually | In context | Oireachtas source

I am advised by Revenue that costings for increases to personal tax credits can be found in the table on page 6 of the Revenue Ready Reckoner which is available on the Revenue website: .

While some of the costs of the increases sought by the Deputy are not displayed in the Ready Reckoner, they can be estimated on a straight-line or pro-rata basis from the costs shown.

For ease of reference, the estimated costings sought by the Deputy, and calculated on the basis of the Ready Reckoner, are set out in the tables below:

Personal Tax Credit - SingleCost First Year €mCost Full Year €m
€1,7004046
€1,7508092
€1,850160184
€1,950240276
€2,050320368
€2,150400460

Personal Tax Credit - MarriedCost First Year €mCost Full Year €m
€3,35032.2537.75
€3,40064.575.5
€3,500129151
€3,600193.5226.5
€3,700258302
€3,800322.5377.5

Widowed Person or surviving Civil Partner (without qualifying child) CreditCost First Year €mCost Full Year €m
€2,2402.953.5
€2,2905.97
€2,39011.814
€2,49017.721
€2,59023.628
€2,69029.535

Single Person Child Carer Tax CreditCost First Year €mCost Full Year €m
€1,7001.61.85
€1,7503.23.7
€1,8506.47.4
€1,9509.611.1
€2,05012.814.8
€2,1501618.5

Comments

No comments

Log in or join to post a public comment.