Paul Murphy (Dublin South West, RISE)
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384.To ask the Minister for Finance the estimated full year annual revenue that could be raised from abolishing agricultural relief on farmland valued at €1 million or over. [32952/24]

Jack Chambers (Dublin West, Fianna Fail)
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I am advised by Revenue that, based on the latest available tax returns, the estimated additional annual revenue that could be raised from abolishing agricultural relief on farmland valued at €1 million or over is €146 million. This estimate does not take account of behavioural change that may arise from introducing a cap on the relief.

It is important to be aware that estimates of tax policy changes for Capital Acquisitions Tax are 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.