Dáil Éireann Debate, Tuesday - 22 March 2016
85. Deputy Mattie McGrath asked the Minister for Finance to reduce the capital gains tax rate and increase the capital gains tax free allowance; to provide details of the income from this tax over the past four years; and if he will make a statement on the matter. [5167/16]
View answerI do not have any immediate plans to reduce the rate of capital gains tax (CGT) or to increase the allowable tax-free annual gain. In common with all taxes, however, CGT is subject to on-going review, in which the rate of tax and all reliefs and exemptions are carefully considered. However, decisions concerning changes to taxes, generally, are taken in the course of the Budgetary and Finance Bill process and I will bear the Deputy's concerns in mind in that context, subject to my continuing in my role as Finance Minister following the formation of the next Government.
With regard to the second part of the Deputy's question I am advised by the Revenue Commissioners that a wide range of statistical information is available on the Commissioners' Statistics webpage http://www.revenue.ie/en/about/statistics/index.html .
Information on potential costs of reducing the rate of Capital Gains Tax (CGT) or increasing the annual allowance can be found on the webpage under the "Ready-Reckoner" heading (http://www.revenue.ie/en/about/statistics/ready-reckoner.pdf) and information on tax receipts from CGT for various years can be found under the "Receipts" heading (http://www.revenue.ie/en/about/statistics/receipts-taxhead.html ).
