Dáil Éireann Debate, Wednesday - 17 September 2014
307. Deputy Róisín Shortall asked the Minister for Finance the number of taxpayers within the high earner restriction in 2012, analysed within income bands of €125,000 to €250,000, €250,001 to €500,000, €500,001 to €750,000, €750,001 to €1,000,000 and more than €1 million; the estimated extra yield arising in the year because of the restrictions; and also the estimated yield because of the restrictions in 2013 and 2014. [34388/14]
View answerThe Revenue Commissioners prepare an annual report on the application of the high income individual's restriction[1]. The following figures on the numbers of individuals who fall within specific bands and the amount of additional tax raised are extracted from those reports:
|
€ |
€ |
2009 |
2010 |
2011 |
|
Up to |
€250,000 |
31 |
767 |
580 |
|
€250,001 |
€500,000 |
238 |
509 |
362 |
|
€500,001 |
€650,000 |
42 |
99 |
80 |
|
€650,001 |
€800,000 |
38 |
63 |
46 |
|
€800,001 |
€1,000,000 |
28 |
38 |
24 |
|
In excess of |
€1,000,000 |
75 |
68 |
51 |
|
Total number of individuals |
- |
452 |
1,544 |
1,143 |
|
Additional tax |
- |
€38,865,420 |
€80,177,797 |
€63,598,808 |
With effect from 2010 the income level at which the restriction started to apply was reduced from €250,000 to €125,000. For that reason there are significantly more individuals in the "up to €250,000" bracket for 2010 and 2011 than for 2009.
Income tax returns for 2012 were filed in October and November 2013 and a report with an analysis of the yield for 2012 will be published shortly.
No estimate has been prepared for the additional yield that may arise in 2013 or 2014.
[1] The 2011 report is available on: http://www.finance.gov.ie/what-we-do/tax-policy/publications/reports-research/restriction-reliefs/restriction-reliefs
