Vol. 563 No. 4
220 Mr. Penrose asked the Minister for Finance the correct tax credits available to a person (details supplied) in County Westmeath who is married; if any of the person's allowance is allocated to other sources; if this person is taxable at 20%; and if he will make a statement on the matter. [7762/03]
I am informed by the Revenue Commissioners that the taxpayer is entitled to a married tax credit of €3,040 and a PAYE tax credit of €800. These tax credits are allocated to his PAYE employment. The standard rate cut-off point for a married couple, in cases where only one of the spouses has income, is €37,000. However, due to an administrative oversight, the taxpayer was in receipt of the single person's standard rate cut-off point, i.e. €28,000. The taxpayer's standard rate cut-off point has now been increased to €37,000 for the current tax year, which means that his income up to €37,000 is taxable at 20%. Income over €37,000 is taxable at the higher rate of 42%.
The inspector of taxes does not have up-to-date information about the taxpayer's income or the income, if any, of the taxpayer's wife. The inspector has written to the taxpayer requesting details of the couple's incomes. When the inspector receives the information, she will then be in a position to determine whether any further adjustment to the taxpayer's tax credits may be needed.
