Dáil Éireann Debate, Wednesday - 28 April 2021
302. Deputy Pearse Doherty asked the Minister for Finance the estimated revenue generated by introducing a 40% rate for capital gains tax in circumstances in which the person making the disposal has an annual income in excess of €500,000, €600,000, €700,000 and €800,000, respectively. [22305/21]
View answerI am advised by Revenue that the estimated revenue generated from a rate of 40% on capital gains for individuals with various income thresholds is as set out in the table below. The yield shown is based on income and Capital Gains Tax (CGT) returns for the tax year 2018, the latest year for which full income information is available. The estimates assume no change in behaviour by individuals resulting from the increase in the tax rate and does not include any yield in respect of companies.
|
Income threshold € |
Proposed 40% CGT Rate - Additional Yield €m |
|
500,000 |
36 |
|
600,000 |
31 |
|
700,000 |
26 |
|
800,000 |
22 |
