Written answers
Tuesday, 20 June 2023
Department of Finance
Tax Credits
Paul Donnelly (Dublin West, Sinn Fein)
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236. To ask the Minister for Finance the estimated cost to the Exchequer of increasing the incapacitated child credit from €3,300 to €3,500 per year; and if he will make a statement on the matter. [29066/23]
Michael McGrath (Cork South Central, Fianna Fail)
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Based on Revenue’s latest Ready Reckoner (Post-Budget 2023), the estimated costs on a first and full year basis of an increase in the value of the tax credit as mentioned by the Deputy are set out in the table below:
| Measure | Adjustment | First Year Cost | Full Year Cost |
|---|---|---|---|
| Incapacitated Child Tax Credit | An increase of €200 from €3,300 to €3,500 | €5.6m | €6.4m |
I would draw the Deputy's attention to the fact that the post-Budget 2023 Ready Reckoner is available on the Revenue Statistics webpage at:
www.revenue.ie/en/corporate/documents/statistics/ready-reckoner.pdf.
Amounts other than those shown in the Ready Reckoner can generally be extrapolated using a straight line or pro-rata calculation.
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