Dáil Éireann Debate, Tuesday - 27 November 2018
163. Deputy Pearse Doherty asked the Minister for Finance the estimated cost of increasing the personal tax credit for the single, married, and so on credit by €50, €100, €200, €300, €400 and €500, respectively. [49007/18]
View answerI am advised by Revenue that costings for increases to personal tax credits can be found in the table on page 6 of the Revenue Ready Reckoner which is available on the Revenue website: https://www.revenue.ie/en/corporate/documents/statistics/ready-reckoner.pdf.
While some of the costs of the increases sought by the Deputy are not displayed in the Ready Reckoner, they can be estimated on a straight-line or pro-rata basis from the costs shown.
For ease of reference, the estimated costings sought by the Deputy, and calculated on the basis of the Ready Reckoner, are set out in the tables below:
|
Personal Tax Credit - Single |
Cost First Year €m |
Cost Full Year €m |
|
€1,700 |
40 |
46 |
|
€1,750 |
80 |
92 |
|
€1,850 |
160 |
184 |
|
€1,950 |
240 |
276 |
|
€2,050 |
320 |
368 |
|
€2,150 |
400 |
460 |
|
Personal Tax Credit - Married |
Cost First Year €m |
Cost Full Year €m |
|
€3,350 |
32.25 |
37.75 |
|
€3,400 |
64.5 |
75.5 |
|
€3,500 |
129 |
151 |
|
€3,600 |
193.5 |
226.5 |
|
€3,700 |
258 |
302 |
|
€3,800 |
322.5 |
377.5 |
|
Widowed Person or surviving Civil Partner (without qualifying child) Credit |
Cost First Year €m |
Cost Full Year €m |
|
€2,240 |
2.95 |
3.5 |
|
€2,290 |
5.9 |
7 |
|
€2,390 |
11.8 |
14 |
|
€2,490 |
17.7 |
21 |
|
€2,590 |
23.6 |
28 |
|
€2,690 |
29.5 |
35 |
|
Single Person Child Carer Tax Credit |
Cost First Year €m |
Cost Full Year €m |
|
€1,700 |
1.6 |
1.85 |
|
€1,750 |
3.2 |
3.7 |
|
€1,850 |
6.4 |
7.4 |
|
€1,950 |
9.6 |
11.1 |
|
€2,050 |
12.8 |
14.8 |
|
€2,150 |
16 |
18.5 |
