Thursday, 8 November 2012

Questions (108)

Seán Fleming

Question:

108. Deputy Sean Fleming asked the Minister for Finance the saving that would be achieved by reducing the age exemption limit from €18,000 for a single person, €36,000 for a married couple, to €17,000 for a single person and €34,00 for a married couple; and if he will make a statement on the matter. [49272/12]

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Written answers (Question to Finance)

I am advised by the Revenue Commissioners that the full year yield to the Exchequer, estimated by reference to 2013 incomes, of reducing the age exemption limits by €1,000 and €2,000 for single and married respectively would be of the order of €24 million. This figure is an estimate from the Revenue tax-forecasting model using actual data for the year 2010 adjusted as necessary for income and employment trends in the interim. It is, therefore, provisional and may be revised.