Dáil Éireann Debate, Wednesday - 6 July 2022
42. Deputy Sorca Clarke asked the Minister for Finance the estimated full-year revenue that would be generated if a 40% rate of capital gains tax on individuals income in excess of €250,000 inclusive of income deriving from capital gains was introduced . [36478/22]
View answerI am advised by Revenue that the estimated full-year revenue generated from a 40% Capital Gains Tax (CGT) rate being applied to the taxable gains of individuals with aggregate income and gains in excess of €250,000 would be in excess of €85 million.
This full-year estimate is based on 2019 data, the latest year for which fully analysed data are available, with the higher proposed rate being applied to the proportionate amount of the gains above the combined threshold only. This estimate assumes no change in behaviour by individuals resulting from the increase in the tax rate.
