Michael Noonan
Question:78 Mr. Noonan (Limerick East) asked the Minister for Finance the estimated cost to the Exchequer, on a category basis, of raising all income tax exemption limits by 10 per cent.
Written Answers. - Income Tax Exemptions.
The full year costs, estimated by reference to the position for the income tax year 1991-92, of the changes referred to in the question are as follows:
|
£m |
|
|
(i) General exemption |
25.4 |
|
(ii) Age exemption: |
|
|
65 years or over |
4.6 |
|
75 years or over |
1.2 |
|
(iii) Child exemption in respect of (i) and (ii) |
1.8 |
|
Total Cost |
33.0 |
These estimates are provisional and are likely to be revised.