Dáil Éireann Debate, Tuesday - 25 October 2016
173. Deputy Pearse Doherty asked the Minister for Finance to set down in tabular form the number of persons claiming start-your-own-business relief; the associated amounts claimed by each person in increments of €1,000 for each of the years 2013, 2014 and 2015; and if he will make a statement on the matter. [31630/16]
View answerThe Start Your Own Business scheme provides for relief from Income Tax for long term unemployed individuals who start a new business. The scheme provides an exemption from Income Tax on profits of up to a maximum of €40,000 per annum for a period of two years to individuals who set up a qualifying business, having been unemployed for a period of at least 12 months prior to starting the business.
I am advised by Revenue that the following table provides a breakdown of the amounts claimed by those who applied for the Start Your Own Business Relief for 2014, the latest year for which data are available. I am further advised by Revenue that as the scheme only began from late October 2013, there were only 228 claims for 2013, all of which are at the very low end of the range.
Due to their obligations in respect of taxpayer confidentiality, Revenue advise me that they are not in a position to provide the breakdown by increments of €1,000 beyond €25,000.
|
Profit amounts on which the exemption has been claimed - € - From |
Profit amounts on which the exemption has been claimed - € - To: |
Number of Claims - 2014 |
|
0 |
1,000 |
696 |
|
1,001 |
2,000 |
161 |
|
2,001 |
3,000 |
141 |
|
3,001 |
4,000 |
128 |
|
4,001 |
5,000 |
147 |
|
5,001 |
6,000 |
75 |
|
6,001 |
7,000 |
95 |
|
7,001 |
8,000 |
76 |
|
8,001 |
9,000 |
79 |
|
9,001 |
10,000 |
85 |
|
10,001 |
11,000 |
52 |
|
11,001 |
12,000 |
49 |
|
12,001 |
13,000 |
40 |
|
13,001 |
14,000 |
50 |
|
14,001 |
15,000 |
30 |
|
15,001 |
16,000 |
30 |
|
16,001 |
17,000 |
37 |
|
17,001 |
18,000 |
29 |
|
18,001 |
19,000 |
36 |
|
19,001 |
20,000 |
32 |
|
20,001 |
21,000 |
21 |
|
21,001 |
22,000 |
15 |
|
22,001 |
23,000 |
21 |
|
23,001 |
24,000 |
13 |
|
24,001 |
25,000 |
14 |
|
25,001 |
30,000 |
52 |
|
30,001 |
35,000 |
38 |
|
>35,000 |
- |
49 |
|
- |
- |
2,291 |
