Tuesday, 15 May 2018

Questions (177, 178, 179, 180)

Pearse Doherty

Question:

177. Deputy Pearse Doherty asked the Minister for Finance the estimated revenue that would be raised from the introduction of an additional USC rate (details supplied) on a person’s income in excess of €100,000. [21204/18]

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Pearse Doherty

Question:

178. Deputy Pearse Doherty asked the Minister for Finance the estimated revenue that would be raised for the Exchequer from the introduction of an additional USC rate (details supplied) on a person’s income in excess of €120,000. [21205/18]

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Pearse Doherty

Question:

179. Deputy Pearse Doherty asked the Minister for Finance the estimated revenue that would be raised from the introduction of an additional USC rate (details supplied) on a person’s income in excess of €140,000. [21206/18]

View answer

Pearse Doherty

Question:

180. Deputy Pearse Doherty asked the Minister for Finance the estimated revenue that would be raised for the Exchequer from the introduction of an additional USC rate (details supplied) on a person’s income in excess of €150,000. [21207/18]

View answer

Written answers (Question to Finance)

I propose to take Questions Nos. 177 to 180, inclusive, together.

I am advised by Revenue that the estimated yield from the introduction of an additional rate of USC at the range of rates and the levels of income as set out by the Deputy are provided in the following tables:

Incomes greater than €100,000 subject to an additional USC rate of:

First Year €m

Full Year €m

Incomes greater than €120,000 subject to an additional USC rate of:

First Year €m

Full Year €m

1%

95

127

1%

80

109

2%

189

254

2%

160

218

3%

284

381

3%

239

327

4%

378

508

4%

319

436

5%

473

635

5%

399

545

6%

568

762

6%

479

654

7%

662

889

7%

559

763

Incomes greater than €140,000 subject to an additional USC rate of:

First Year €m

Full Year €m

Incomes greater than €150,000 subject to an additional USC rate of:

First Year €m

Full Year €m

1%

70

96

1%

66

91

2%

139

193

2%

131

183

3%

209

289

3%

197

274

4%

278

386

4%

262

365

5%

348

482

5%

328

457

6%

418

578

6%

394

548

7%

487

675

7%

459

640

These estimates have been generated by reference to 2018 incomes as calculated on the basis of actual data for the year 2015, the latest year for which returns are available, adjusted as necessary for income, self-employment and employment trends in the interim. The estimates are provisional and may be revised. These estimates assume the retention of the current 3% surcharge for Schedule D taxpayers on incomes in excess of €100,000.