I am advised by the Revenue Commissioners that the information available from tax returns is in such a form that the costing requested by the Deputy cannot be provided.
The proposal from the Deputy would appear to seek an exemption from income tax, USC and PRSI for income which is used to purchase shares in co-operatives. However, there is no indication as to whether the Deputy would then seek the imposition of a charge to income tax, USC and PRSI on the value of the shares when sold, in place of the current CGT charge in respect of any relevant gains.
It is important to note that any proposal to change the manner in which investments in shares in co-operatives are treated for tax purposes, might have consequences for shares of other types. In addition, the potential for such a change to be classed as State aid would have to be carefully considered.