Arthur Morgan
Ceist:428 Deputy Arthur Morgan asked the Minister for Finance the impact on the Exchequer of removing those previously below the tax net from the Government imposed levy. [31929/10]
Amharc ar fhreagraWednesday, 29 September 2010
Ceisteanna (338)
Freagraí scríofa
It is assumed that the Deputy is referring to the income levy and increasing the exemption threshold. It is estimated that an increase in the general, non-aged, income levy threshold from €15,028 per annum to €18,304 per annum would cost in the region of €55 million in a full year.
This figure is an estimate from the Revenue tax-forecasting model using actual data for the year 2008, adjusted as necessary for income and employment trends for the year 2011. It is therefore provisional and likely to be revised.
A Pre-Budget 2011 Income Tax Ready Reckoner is now available on my Department's website, www.finance.gov.ie.