I propose to take Questions Nos. 181 to 185, inclusive and 189 together.
I am advised by Revenue that the estimated yields from tapering the specified credits at the various thresholds as set out by the Deputy are given in the following tables:
Taper out of credits at incomes between €100,000 and €170,000 at a rate of 0.7% per €1,000:
|
First Year €m
|
Full Year €m
|
|
Taper out of credits at incomes between €100,000 and €170,000 at a rate of 0.7% per €1,000:
|
First Year €m
|
Full Year €m
|
PAYE
|
104
|
117
|
|
PAYE
|
104
|
117
|
Personal
|
180
|
221
|
|
Personal (Single + Widowed only)
|
13
|
17
|
Earned Income Credit
|
4.4
|
7.9
|
|
Earned Income Credit
|
4.4
|
7.9
|
Total
|
288
|
346
|
|
Total
|
121
|
142
|
|
|
|
|
|
|
|
Taper out of credits at incomes between €100,000 and €140,000 at a rate of 2.5% per €1,000:
|
First Year €m
|
Full Year €m
|
|
Taper out of credits at incomes between €100,000 and €150,000 at a rate of 2% per €1,000:
|
First Year €m
|
Full Year €m
|
PAYE
|
190
|
214
|
|
PAYE
|
173
|
194
|
Personal
|
303
|
366
|
|
Personal
|
279
|
338
|
Earned Income Credit
|
6.4
|
11.5
|
|
Earned Income Credit
|
6.1
|
10.8
|
Total
|
499
|
592
|
|
Total
|
458
|
543
|
|
|
|
|
|
|
|
Taper out of credits at incomes between €100,000 and €120,000 at a rate of 5% per €1,000:
|
First Year €m
|
Full Year €m
|
|
Taper out of credits at incomes between €80,000 and €100,000 at a rate of 5% per €1,000:
|
First Year €m
|
Full Year €m
|
PAYE
|
236
|
265
|
|
PAYE
|
403
|
453
|
Earned Income Credit
|
7.4
|
13.1
|
|
Earned Income Credit
|
10
|
18
|
Total
|
243
|
278
|
|
Total
|
413
|
471
|
I am advised by Revenue while a rate of 0.7% per €1,000 on incomes over €100,000 would not taper to zero at incomes of €170,000, it is assumed the relevant credits are reduced to zero for incomes above €170,000 in these scenarios.
I am also advised that the data provided provide the cost of tapering on a taxpayer unit basis, i.e. married persons or civil partners who have elected or who have been deemed to have elected for joint assessment are counted as one tax unit and it is not possible to provide this costing on an individual taxpayer basis. 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.