Anne Rabbitte
Question:102. Deputy Anne Rabbitte asked the Minister for Finance the estimated cost of increasing the home carer’s tax credit by increments (details supplied) in tabular form. [35435/19]
View answerFriday, 6 September 2019
Questions (102)
Written answers
The cost of an increase to the Home Carer Tax credit of €50 is shown in Revenue’s Ready Reckoner available at https://www.revenue.ie/en/corporate/information-about-revenue/statistics/ready-reckoner/index.aspx. The current maximum value of the HCC is €1,500. The costs of increasing the credit as requested by the Deputy can be calculated on a straight-line basis and are set out in the following table:
|
Home Carer Credit – Maximum Value |
First Year Cost of Increase €m |
Full Year Cost of Increase €m |
|
€1,600 |
6.6 |
7.6 |
|
€1,700 |
13.2 |
15.2 |
|
€1,800 |
19.8 |
22.8 |
|
€1,900 |
26.4 |
30.4 |
|
€2,000 |
33 |
38 |
|
€2,100 |
39.6 |
45.6 |
|
€2,200 |
46.2 |
53.2 |
|
€2,300 |
52.8 |
60.8 |
|
€2,400 |
59.4 |
68.4 |
|
€2,500 |
66 |
76 |
The above estimates have been generated by reference to 2020 incomes as calculated on the basis of actual data for the year 2017, 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. They assume no behavioural change by taxpayers.