Dáil Éireann Debate, Tuesday - 27 July 2021
327. Deputy Ged Nash asked the Minister for Finance the projected yield from abolishing relief under section 604A; the cost to date to the Exchequer annually of this relief; and if he will make a statement on the matter. [39876/21]
View answer338. Deputy Ged Nash asked the Minister for Finance the estimated yield from abolishing the primary private residence relief from capital gains tax and from capping the primary private residence relief from capital gains tax at €1 million; and if he will make a statement on the matter. [39892/21]
View answer339. Deputy Ged Nash asked the Minister for Finance the estimated yield from abolishing entrepreneurs relief as provided for under section 597AA of the Taxes Consolidation Act 1997; and if he will make a statement on the matter. [39893/21]
View answer340. Deputy Ged Nash asked the Minister for Finance the estimated yield from abolishing the CGT retirement relief and from reducing the limit that currently applies to the relief on disposals or transfers to children or certain other close relations if made after the age of 66 from €3 million to €1 million; and if he will make a statement on the matter. [39894/21]
View answer341. Deputy Ged Nash asked the Minister for Finance the estimated yield from CGT retirement relief from applying a limit of €3 million or €1 million, respectively, to disposals or transfers to children or certain other close relations between the ages of 55 and 66; and if he will make a statement on the matter. [39895/21]
View answer342. Deputy Ged Nash asked the Minister for Finance the estimated yield from abolishing CGT relief that is given to property acquired between 7 December 2011 and 31 December 2014; and if he will make a statement on the matter. [39896/21]
View answerI propose to take Questions Nos. 327 and 338 to 342, inclusive, together.
In relation to Questions No 327 and 342, the estimated cost of Section 604A relief for the latest years is available at link www.revenue.ie/en/corporate/documents/statistics/tax-expenditures/relief-on-disposal-of-certain-land-or-buildings.pdf.
In relation to Question No 339, the estimated cost of Entrepreneur relief for the latest years is available at link: www.revenue.ie/en/corporate/documents/statistics/tax-expenditures/entrepreneur-relief-statistics.pdf.
In relation to Questions No 340, 341 and 338, the consideration amounts returned in respect of associated claims for retirement relief or disposals of Principal Private Residences are published at link: www.revenue.ie/en/corporate/documents/statistics/income-distributors/summary-of-capital-gains-tax-returns.pdf.
The yield from the abolition of these reliefs would depend on future disposals of the relevant assets and any behavioural change of those impacted. However, in general terms, the current cost of the relief (indicated in sources noted above) could be indicative of the possible yield from abolition.
