asked the Minister for Finance the percentage increase on the total amount collected from income tax between 1971 and 1978; and the percentage increase in personal income tax allowances for the same period.
Ceisteanna—Questions . Oral Answers . - Income Tax .
12.
: As the reply is in the form of a tabular statement, I propose with the permission of the Ceann Comhairle, to have it circulated with the Official Report.
Following is the statement:
|
(1) |
(2) |
(3) |
|||
|
Personal allowances* |
|||||
|
Income Tax Year |
Net receipt of income tax (including surtax) |
(a) Single(b) Widowed(c) Married |
|||
|
£ million |
£ |
||||
|
1971-72 |
152.8 |
(a) 249 |
|||
|
(b) 274 |
|||||
|
(c) 424 |
|||||
|
Financial Year |
Net receipt of income tax |
Personal allowances† |
|||
|
(Budget estimate figure) |
Percentage increase on 1971-72 receipt |
(a) Single(b) Widowed(c) Married |
Percentage increase on 1971-72 amounts |
||
|
£ million |
% |
£ |
% |
||
|
1978 |
591.5 |
287 |
(a) |
865 |
247 |
|
(b) |
935 |
241 |
|||
|
(c) |
1,730 |
308 |
* In addition to the basic personal allowance, earned income relief amounting to one-fourth of earned income, subject to a maximum allowance of £500, was allowed for 1971-72. When this allowance was abolished in 1974 the benefit was retained by—
(a) an increase of one-third in the personal allowances (in fact, the allowances were increased that year by a greater amount) and
(b) introducing a reduced rate of 26 per cent on the first £1,550 of taxable income.
the allowances for 1971-72 set out in the Table were adjusted by an increase of one-third, he increases in the corresponding allowances for 1978-79 would be 161%, 156% and 206%, espectively.
† These are the allowances which apply for the Income Tax Year 1978-79.