asked the Minister for Finance the actual yield to date in each of the years 1975, 1976, 1977, 1978, 1979, 1980 and 1981 and the estimated yield for 1982 from each of the following taxes; wealth tax, capital gains tax and capital acquisitions tax; and the number of payers in respect of those taxes in each of those years.
Written Answers. - Revenue Yield.
569.
Following is the information requested:
|
Head of Revenue |
Year ended |
Yield |
Number of payers |
|
(1) |
(2) |
(3) |
(4) |
|
(a) Wealth tax |
31 December, 1975 |
£3,672,411 |
5,494¹ |
|
(b) Wealth tax |
31 December, 1976 |
£6,488,613 |
5,142¹ |
|
(c) Wealth tax |
31 December, 1977 |
£5,806,066 |
4,911¹ |
|
(d) Wealth tax |
31 December, 1978 |
£712,037 |
|
|
(e) Wealth tax |
31 December, 1979 |
£758,028 |
|
|
(f) Wealth tax |
31 December, 1980 |
£797,866 |
|
|
(g) Wealth tax |
31 December, 1981 |
£705,758 |
|
|
(h) Wealth tax |
31 December, 1982 |
£300,000 |
|
|
(estimated) |
|||
|
(i) Capital gains tax |
31 December, 1975 |
£40,166 |
26 |
|
(j) Capital gains tax |
31 December, 1976 |
£430,451 |
503 |
|
(k) Capital gains tax |
31 December, 1977 |
£1,470,248 |
1,699 |
|
(l) Capital gains tax |
31 December, 1978 |
£3,239,437 |
3,315 |
|
(m) Capital gains tax |
31 December, 1979 |
£3,996,472 |
3,929 |
|
(n) Capital gains tax |
31 December, 1980 |
£5,895,729 |
3,822 |
|
(o) Capital gains tax |
31 December, 1981 |
£6,172,000 |
4,428 |
|
(p) Capital gains tax |
31 December, 1982 |
£7,900,000 4 |
5,000 |
|
(estimated) |
(estimated) |
||
|
(q) Capital acquisitions tax |
31 December, 1975 |
nil² |
—² |
|
(r) Capital acquisitions tax |
31 December, 1976 |
£433,513 |
not available³ |
|
(s) Capital acquisitions tax |
31 December, 1977 |
£2,931,806 |
not available³ |
|
(t) Capital acquisitions tax |
31 December, 1978 |
£4,994,777 |
1,353 |
|
(u) Capital acquisitions tax |
31 December, 1979 |
£7,530,036 |
1,249 |
|
(v) Capital acquisitions tax |
31 December, 1980 |
£7,992,150 |
1,582 |
|
(w) Capital acquisitions tax |
31 December, 1981 |
£9,156,016 |
1,572 |
|
(x) Capital acquisitions tax |
31 December, 1982 |
£10,300,000 4 |
1,600 |
|
(estimated) |
(estimated) |
Notes
1 From the introduction of wealth tax until its abolition three valuation dates occurred, namely 5 April 1975, 5 April 1976 and 5 April 1977. The figures 5,494, 5,142 and 4,911 respectively are the numbers of payers who made payments referable to those valuation dates, irrespective of the year in which any particular payment was made.
It should be borne in mind that for wealth tax purposes payers comprise the three categories of assessable persons namely, individuals, discretionary trusts and private non-trading companies.
2 The Capital Acquisitions Tax Act, 1976 became law on 31 March 1976 and there was therefore no yield in 1975.
3 The statistics available do not show the number of payers of capital acquisitions tax for the years 1976 and 1977.
4 Post-Budget estimate (25 March 1982).
570.
asked the Minister for Finance (a) the amount paid in 1980 and 1981 and the estimated amount in 1982 in income tax by farmers (i) with another trade or business and (ii) whose sole income is from farming and (b) the amount paid under PAYE in 1980 and 1981 and the estimated amount for 1982.
The following is the information requested:
|
Year |
Estimated receipt of income tax payable in respect of farming profits by farmers |
Net receipt of PAYE |
|
|
(i) |
(ii) |
||
|
with another trade or profession |
whose sole income is from farming |
||
|
£m |
£m |
£m |
|
|
1980 |
7.0 |
18.0 |
878.1 |
|
1981 |
5.0 |
15.0 |
1,093.3 |
|
1982 |
|||
|
(1982 Budget estimates) |
5.0 |
17.2 |
1,421.0 |
Notes:
(1) Income tax on farming profits is collected with Schedule D tax generally and the figures shown for the tax on such profits are therefore estimated.
(2) Because of a change in the timing of income tax payments, the figure for 1980 for farmers represents 1½ year's tax.
(3) PAYE figures include certain receipts from non-employee taxpayers — for example, tax on fees and salaries of proprietorial company directors.
(4) The figure for 1982 receipts from PAYE is the post-1982 budget projection. It does not take account of the subsequent £45 million income tax concession to offset the effects of PRSI increases.