Thursday, 24 October 2013

Questions (64)

Brendan Griffin

Question:

64. Deputy Brendan Griffin asked the Minister for Finance if he will consider putting in place a DIRT free limit per person on small savings; and if he will make a statement on the matter. [45381/13]

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Written answers (Question to Finance)

I have no plans to put in place a Deposit Interest Retention Tax (DIRT) free limit on savings. Such a measure could be difficult to administer in the event of individuals opening a number of accounts to keep the interest payment on individual accounts below a certain level. This happened prior to the introduction of DIRT to avoid the provision that interest payments above a threshold were reported to Revenue. Such an exemption would also affect the yield projection from the proposed DIRT increase. It is not possible to forego this income given current budgetary constraints.