Thursday, 30 November 2017

Questions (89, 90, 91)

Michael McGrath

Question:

89. Deputy Michael McGrath asked the Minister for Finance the first and full-year cost of increasing the group A capital acquisitions tax, CAT, threshold from €310,000 to €320,000, €330,000, €340,000 and €350,000; and if he will make a statement on the matter. [51354/17]

View answer

Michael McGrath

Question:

90. Deputy Michael McGrath asked the Minister for Finance the first and full-year cost of increasing the group B CAT threshold from €32,150 to €37,150 and €42,150; and if he will make a statement on the matter. [51355/17]

View answer

Michael McGrath

Question:

91. Deputy Michael McGrath asked the Minister for Finance the first and full-year cost of increasing the group C CAT threshold from €16,250 to €21,250 and €26,250; and if he will make a statement on the matter. [51356/17]

View answer

Written answers (Question to Finance)

I propose to take Questions Nos. 89 to 91, inclusive, together.

I am advised by Revenue that the first and full year cost of increasing Group A, B and C thresholds are outlined in the table.

Threshold A €310,000

First Year

Full Year

Increased to

€m

€m

€320,000

7.4

8.5

€330,000

13.8

16.0

€340,000

19.6

22.8

€350,000

24.8

28.9

Threshold  B €32,500

First Year

Full Year

Increased to

€m

€m

€37,150

11.4

13.2

€42,150

22.1

25.7

Threshold  C €16,250

First Year

Full Year

Increased to

€m

€m

€21,250

4.7

5.5

€26,250

8.5

9.9

The current Threshold B rate is €32,500 as of 12th October 2016.

Further information is available in the Post-Budget 2018 Ready Reckoner which is available on the Revenue Statistics webpage at https://www.revenue.ie/en/corporate/information-about-revenue/statistics/ready-reckoner/index.aspx. This Ready Reckoner shows a wide range of detailed information, including changes to the CAT rates and the Group thresholds.