Vol. 483 No. 6
252 Mr. R. Bruton asked the Minister for Finance if he will give details of the tax reliefs against personal taxes which are confined to 26 per cent and the tax reliefs which apply at the maximum marginal tax rate payable. [21530/97]
I am informed by the Revenue Commissioners that relief against personal tax is given at the 26 per cent rate in respect of the following: mortgage interest relief, medical insurance relief, service charges, fees paid to approved colleges, home alarms for the elderly, rent paid for private residential accommodation for people under 55 years of age, tax relief for designated Irish Third World charities. All other allowances and reliefs qualify for tax relief at the 48 per cent rate.
253 Mr. McDowell asked the Minister for Finance the cost in a full year of a reduction in the upper income tax rate from 48 per cent to 45 per cent. [21531/97]
254 Mr. McDowell asked the Minister for Finance the cost in a full year of a reduction in the standard tax rate from 26 per cent to 24 per cent. [21532/97]
I propose to take Questions Nos. 253 and 254 together.
255 Mr. McDowell asked the Minister for Finance the cost in each of the years from 1998 to 2000 of a 3 per cent reduction in the corporation tax rate. [21533/97]
The estimated cost of a 3 per cent reduction in the standard rate of corporation tax from April 1998 would be £1.5 million in 1998, £52.5 million in 1999 and £69 million in the year 2000.
