Dáil Éireann debate -
Thursday, 14 Apr 1994

Vol. 441 No. 3

Written Answers - Property Tax Criteria.

Bernard Allen

Question:

119 Mr. Allen asked the Minister for Finance if he will investigate a situation whereby recipients of income from national savings certificates are being told by the Department of Finance that such income is calculable for property tax purposes in view of the fact that the section dealing with national savings certificates says that this is not the case; and if he will make a statement on the matter.

Minister for Finance (Mr. B. Ahern)

Any interest or other sums payable from national savings certificates are exempt from deposit interest retention tax, income tax and capital gains tax and are not returnable as income to the Revenue Commissioners.

However, the Finance Act, 1983 provides that in determining exemption from residential property tax on the grounds of income, total income from all sources is the criterion used.