asked the Minister for Finance if he will publish figures concerning the assessment of wealth tax as at the latest available date, in the form of a reply to parliamentary question No. 13 on 17 October 1979.
Written Answers. - Wealth Tax.
346.
The information that the Deputy requires is as follows:
Table I.
|
Type of Property |
Value |
|
£ |
|
|
(a) Holdings held outside the State |
426,637,096 |
|
(b) Agricultural land |
275,274,998 |
|
(c) Stocks and Shares |
594,126,830 |
|
(d) Other forms of property |
553,044,520 |
|
Total |
1,849,083,444* |
*Some property may be included twice or three times in this total—see Note (i).
Table II.
|
Categories of assessable persons |
Number of assessable persons |
|
Individuals |
6,067 |
|
Discretionary Trusts |
2,647 |
|
Private non-trading companies |
3,395 |
|
Total |
12,109* |
*Some persons may be included twice or three times in this total-see Note (v).
Notes:
(i) Table 1 gives particulars of the type and value of all property which was assessed to wealth tax in the period from the inception of the tax in 1975 up to 5 April 1979. The values shown represent the sum of the values for the three valuation dates when the tax was operative, 5 April 1975, 5 April 1976 and 5 April 1977. Because of the manner in which statistics are kept, it is not possible to furnish particulars for each valuation date separately. Information concerning cases assessed after 5 April 1979 is not yet available.
(ii) The values shown in table 1 are net market values after deduction of debts, incumbrances and reliefs.
(iii) The value at (a) in table 1 refers to property of every description situate outside the State; the values at (b), (c) and (d) refer together to property of every description situate in the State.
(iv) The land referred to at (b) in table 1 is land of individuals only; land in the hands of discretionary trusts and private non-trading companies is included in the property at (d).
(v) Table 2 gives particulars of the numbers of persons assessed to tax on the property in table 1. The numbers shown represent the sum of the numbers for the three valuation dates and where a person was assessed to tax for more than one valuation date that person is included more than once in table 2.