I propose to take Questions Nos. 152 and 153 together.
I am informed by the Revenue Commissioners that on the basis of 2012 data, the latest available, the estimated full year yield from reducing Agricultural Relief from Capital Acquisitions Tax (CAT) from 90% to 80%, would be in the region of €8 million; the estimated yield from reducing the relief from 90% to 75% would be in the region of €12 million.
The estimated yield from reducing Business Relief from CAT from 90% to 80% would be in the region of €12.5 million; the estimated yield from reducing the relief from 90% to 75% would be in the region of €19 million.
It should be noted that these estimates are tentative because some of the potential yield from reducing these reliefs could be offset by taxpayers availing of exemption from group thresholds that would otherwise remain unabsorbed. They are also based upon an assumption that there would be no behavioural impact from such changes, which could lead to a less than expected result from a change to the tax base.
In addition, the realisation of any estimated yield from an increase in taxation on assets relating to property is subject to movements in the value of such assets which are currently occurring in the economy.
I am informed by the Revenue Commissioners that it is not possible to estimate the yield from imposing a cap on the qualifying amount for the business and agricultural reliefs for Capital Acquisitions Tax as the data in relation to these reliefs is not available in a form that would allow such estimates to be made. Accordingly, the specific information requested by the Deputy in this regard is not available.