asked the Minister for Finance if there is any, and if so what, change in the income tax statistics specified in the reply to Question No. 68 of 28th February, 1963.
Written Answers. - Income Tax.
115.
The figures specified in the reply to Question No. 68 of the 28th February, 1963, require to be revised as shown in the following table:
|
Allowance |
Estimated Cost |
|
|
First Year |
Full Year |
|
|
£ |
£ |
|
|
(1) Married allowance (£394)(a) if increased to £400(b) ,, ,, ,, £420 |
160,000650,000 |
190,000 770,000 |
|
(2) Widow(er) allowance (£259)(a) if increased to £260(b) ,, ,, ,, £300 |
4,000 145,000 |
5,000 170,000 |
|
(3) Single allowance (£234)(a) if increased to £240(b) ,, ,, ,, £260 |
415,000 1,775,000 |
490,000 2,090,000 |
|
(4) Child allowance (£120) if increased to £140 |
500,000 |
590,000 |
|
(5) Dependent Relative allowance (£60) if increased to £80 |
320,000 |
375,000 |
116.
asked the Minister for Finance if he will state the amount collected under Schedule E Income Tax for the years 1961-62, 1962-63 and 1963-64 in the terms of the reply to Question No. 7 of 26th April, 1961; and, if any such information is not now available, the date on which it will be available.
It is estimated that the amounts of income tax under Schedule E collected in the three years in question were approximately as follows:—
|
1961-62 |
£11.7 million |
|
1962-63 |
£14.0 million |
|
1963-64 |
£16.2 million |
The approximate amounts included in the above figures in respect of tax collected under Pay As You Earn are set out below:—
|
1961-62 |
£9.1 million |
|
1962-63 |
£11.4 million |
|
1963-64 |
£13.2 million. |
117.
asked the Minister for Finance if he will give particulars of Schedule E income tax collection for 1963-64 in the form of a reply to Question No. 12 of 4th April, 1963, and the estimated amount for 1964-65.
It is estimated that the amount of income tax under Schedule E collected in the year 1963/64 was approximately £16,200,000. This figure includes a sum of above £13,200,000 collected under Pay As You Earn.
If the Deputy puts down a suitable question for answer after Budget Day, I shall be glad to give an estimate of the corresponding figures for 1964-65.