Written answers
Tuesday, 23 July 2024
Department of Finance
Tax Collection
Paul Murphy (Dublin South West, RISE)
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381.To ask the Minister for Finance the amount of capital acquisitions tax paid annually on inheritances over €1 million, over €5 million and over €10 million for each of the past ten years. [32949/24]
Paul Murphy (Dublin South West, RISE)
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382.To ask the Minister for Finance the percentage of capital acquisitions tax that was paid annually on inheritances over €1 million, over €5 million and over €10 million for each year of the past ten years. [32950/24]
Paul Murphy (Dublin South West, RISE)
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383.To ask the Minister for Finance the projected full year revenue from capital acquisitions tax on inheritances over €1 million, over €5 million and over €10 million. [32951/24]
Jack Chambers (Dublin West, Fianna Fail)
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I propose to take Questions Nos. 381, 382 and 383 together.
I am advised by Revenue that the table below provides the amount and percentage of inheritance tax paid, for inheritances above and below one million, for the years 2018 to 2023. Due to the small number of taxpayers (less than 10) involved, and Revenue’s obligation to maintain the confidentiality of taxpayer information, specific quantitative information in relation to tax amounts on inheritances greater than five million cannot be provided.
I am further advised that Revenue cannot provide the relevant amounts for earlier years as the data is unavailable for statistical analysis.
In relation to the Deputy's question on the projected full year revenue from capital acquisitions tax on inheritances over €1 million, over €5 million and over €10 million, my Department does not forecast Capital Acquisitions Tax at those levels of disaggregation.
| Year | 2023 | 2023 | 2022 | 2022 | 2021 | 2021 | 2020 | 2020 | 2019 | 2019 | 2018 | 2018 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Inheritance Tax €m | Distribution % | Inheritance Tax €m | Distribution % | Inheritance Tax €m | Distribution % | Inheritance Tax €m | Distribution % | Inheritance Tax €m | Distribution % | Inheritance Tax €m | Distribution % | |
| Inheritance less than €1 million | 423.21 | 76 | 398.36 | 76 | 360.70 | 75 | 310.02 | 72 | 341.51 | 75 | 363.83 | 78 |
| Inheritance greater than €1 million | 133.64 | 24 | 125.80 | 24 | 120.23 | 25 | 120.56 | 28 | 113.84 | 25 | 102.62 | 22 |
| Total | 556.85 | 100 | 524.16 | 100 | 480.93 | 100 | 430.58 | 100 | 455.35 | 100 | 466.45 | 100 |
It is important to be aware that estimates of tax policy changes for Capital Acquisitions Taxare provided on the basis of the current Budget year (2024) rather than the next Budget year (2025).
The Budget year costings for 2025 are prepared for the party costings service and are used to feed into costings requested by the Department of Finance in advance of the Budget. The Revenue Pre-Budget Ready Reckoner (published end August) will also be on the basis of Budget year 2025.
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