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Dáil Éireann díospóireacht -
Thursday, 9 Jul 1992

Vol. 422 No. 5

Written Answers. - Tax Free Allowance.

Michael Noonan

Ceist:

78 Mr. Noonan (Limerick East) asked the Minister for Finance if he will outline the cost of introducing a tax free allowance for all dependent children at £500 per child at (a) marginal rates and (b) the standard rate only.

The Revenue Commissioners tentatively estimate that the cost of restoring the allowance at marginal tax rates, at £500 per child, on the basis on which it formerly applied (that is to children under 16 years of age or over 16 years of age and in full-time education) would be in the region of £108 million in a full year. The corresponding cost at standard rate only is estimated at £82 million in a full year.

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