Written answers
Thursday, 24 October 2019
Department of Finance
Tax Data
Michael McGrath (Cork South Central, Fianna Fail)
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68. To ask the Minister for Finance the estimated first and full year cost of increasing the group A CAT threshold of €335,000 by €3,000, €10,000, €32,000, €100,000 and €200,000, respectively, in tabular form; and if he will make a statement on the matter. [43994/19]
Michael McGrath (Cork South Central, Fianna Fail)
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69. To ask the Minister for Finance the estimated first and full year cost of reducing the CAT rate from 33% to 32%, 30%, 28% and 23%, respectively, in tabular form; and if he will make a statement on the matter. [43995/19]
Michael McGrath (Cork South Central, Fianna Fail)
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70. To ask the Minister for Finance the estimated first and full year cost of reducing the CAT rate from 33% to 32%, 30%, 28% and 23%, respectively, in tabular form while simultaneously increasing the group A CAT threshold of €335,000 by €3,000, €10,000, €32,000, €100,000 and €200,000, respectively, in tabular form; and if he will make a statement on the matter. [43996/19]
Paschal Donohoe (Dublin Central, Fine Gael)
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I propose to take Questions Nos. 68 to 70, inclusive, together.
I am informed by the Revenue Commissioners that the estimated full year costs of increasing the CAT Category A threshold to the proposed amounts, and the costs of increasing the Category A threshold while simultaneously reducing the CAT rates as proposed, is as set out in the following table.
Category A - Full Year Cost (€m)
Current Threshold | Proposed Thresholds | |||||
---|---|---|---|---|---|---|
CAT Rate % | 335,000 | 338,000 | 345,000 | 367,000 | 435,000 | 535,000 |
33 | * | 2 | 8 | 22 | 54 | 83 |
32 | 6 | 8 | 13 | 27 | 58 | 87 |
30 | 17 | 20 | 24 | 37 | 66 | 93 |
28 | 29 | 31 | 36 | 48 | 75 | 100 |
23 | 58 | 60 | 63 | 73 | 95 | 116 |
The first-year cost of changes depends on the date of introduction but would be in the region of 85% of the amounts shown, if the changes were implemented from Budget day.
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