Dáil Éireann Debate, Tuesday - 7 November 2017
270. Deputy Joan Burton asked the Minister for Finance the apportion out cost to the Exchequer of budget 2018 changes to the standard rate threshold and reduction in the USC rate between income tax cases below €70,000 and above €70,000; and if he will make a statement on the matter. [47107/17]
View answerI am advised by Revenue that the table sets out the estimated cost to the Exchequer of the Budget 2018 changes, on a full year basis, in the manner outlined by the Deputy.
|
Gross Income of Tax Unit |
Income Tax €m |
USC €m |
|
<€70,000 |
-75 |
-127 |
|
>€70,000 |
-77 |
-79 |
|
Total |
-152 |
-206 |
These estimates are based on tax units. As the Deputy will be aware, jointly assessed couples are considered a single tax unit. Therefore the income of a tax unit consisting of a jointly assessed couple is the combined income of both individuals.
These estimates have been generated by reference to 2018 incomes, calculated on the basis of actual data for the year 2015, the latest year for which returns are available and adjusted for income, self-employment and employment trends in the interim. They are provisional and may be revised.
