Dáil Éireann Debate, Thursday - 21 July 2016
154. Deputy Niall Collins asked the Minister for Finance to provide in tabular form the total amount in agricultural relief and business relief on capital acquisition tax for the transfer of a business drawn down in each of the years 2014 to date in 2016; the current rates in operation; the number of cases where each relief was availed; the cost of extending full relief in both cases; and if he will make a statement on the matter. [24146/16]
View answer167. Deputy Michael McGrath asked the Minister for Finance the first-year and full-year cost of increasing the threshold for group A recipients to €290,000, €300,000, €310,000, €320,000, €330,000, €340,000 and €350,000, respectively, in tabular form; and if he will make a statement on the matter. [24247/16]
View answer172. Deputy Michael McGrath asked the Minister for Finance to provide in tabular form the cost in 2017 and in a full year the reduction in capital acquisitions tax from 33% to 32%, 31%, 30%, 29% and 28%, respectively; and if he will make a statement on the matter. [24253/16]
View answerI propose to take Questions Nos. 154, 167 and 172 together.
In relation to the first question, I am advised by Revenue that information on the amount of tax relief granted under the Agricultural Relief and Business Relief in respect of 2014 and 2015 are shown in the following tables. Information for 2016 is not currently available.
Agricultural Relief
|
Year |
Cost €m |
Numbers |
|
2014 |
164.4 |
1,581 |
|
2015 |
215 |
2,024 |
|
2016 |
Not available |
Not available |
Business Relief
|
Year |
Cost €m |
Numbers |
|
2014 |
139.7 |
495 |
|
2015 |
86.9 |
461 |
|
2016 |
Not available |
Not available |
The cost of extending the current relief from 90% to 100% would be in the region of €7m in the case of Agricultural Relief and €4.3m in the case of Business Relief.
In relation to the other two questions, I am advised by Revenue that a Pre-Budget 2017 Ready Reckoner is available on the Revenue Statistics webpage at http://www.revenue.ie/en/about/statistics/index.html. This Ready Reckoner shows a wide range of detailed information, including changes to the CAT rates and the Group A threshold. While the Ready Reckoner does not show all of the specific costings requested by the Deputy, others can be estimated from those shown on a pro-rata or straight line basis with those displayed in the Reckoner.
