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Dáil Éireann debate -
Thursday, 25 Jul 1996

Vol. 468 No. 4

Written Answers. - Revenue Statistics.

Dermot Ahern

Question:

90 Mr. D. Ahern asked the Minister for Finance the estimated revenue foregone in each of the years from 1992 to date in 1996 by personal income tax allowances and other corporate tax allowances, child tax allowances, mortgage interest relief, VHI relief and capital allowances; and if he will make a statement on the matter. [15425/96]

Following is the information requested in so far as it is available. The corporate tax allowances and reliefs included in the table are those for which relatively reliable estimates of revenue foregone are available.

Cost of Income tax and Corporation tax allowance(1)

Allowances/relief

1991-92

1992-93

1993-94

1994-95

1995-96

£m

£m

£m

£m

£m

Exemption limits(2)

47.7

56.0

55.4

52.0

50.3

Child addition to exemption limits

20.8

28.4

37.8

53.8

54.5

Personal allowances(3)

1,522.7

1,442.0

1,682.7

1,828.3

1,918.0

Incapacitated child allowance

1.9

1.8

1.7

1.6

1.7

Loan interest (mortgage interest relief)

181.4

190.5

190.7

141.1

136.5

Medical insurance

51.9

53.9

62.6

65.0

58.2

Capital allowances

351.0

588.0

853.0

Not available

Not available

Urban renewal(4)

17.8

25.1

19.7

46.0

64.2

Provision of rented residential accommodation(4)

3.8

8.9

Not available

Not available

Not available

Double taxation relief(5)

44.1

47.6

83.3

Not available

Not available

The figures for the years after 1992-93 are provisional and subject to revision.
Notes on table
(1) The cost figures included for corporation tax are by reference to accounting periods ending on 31 March each year.
(2) Includes the general and age exemption limits.
(3) The personal allowances included in the estimates of cost are the married, single, widowed, PAYE and PRSI allowances together with the associated one-parent family allowance.
(4) These estimates are available on a calendar year basis, that is, for 1991 and 1992 in respect of rented residential accommodation and for 1991, 1992, 1993, 1994 and 1995 in respect of urban relief.
(5) The cost of double taxation relief shown for 1993-94 relates only to companies. The corresponding figure for individuals is not yet available.
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