Dáil Éireann Debate, Tuesday - 19 July 2011
119 Deputy Pearse Doherty asked the Minister for Finance if he will provide this Deputy with the data on the volume and value of sales of principal private residences for the years 2007 to 2010, inclusive. [21040/11]
Amharc ar fhreagraI understand the Deputy is looking for the volume and value of sales of principal private residences which are not subject to Capital Gains Tax (CGT). I am informed by the Revenue Commissioners that information on the value of capital gains arising from the disposal of principal private residences is not required in CGT returns (most disposals of principal private residences do not lead to a CGT liability). I am also informed by the Revenue Commissioners that Stamp Duty returns do not show whether the house being sold was the principal private residence of the vendor. They are therefore unable to supply data on the volume and value of sales of principal private residences which are not subject to CGT.
Housing statistics are a matter for my colleague, the Minister for the Environment, Community and Local Government.
120 Deputy Pearse Doherty asked the Minister for Finance the return to the Exchequer in a full year if capital acquisitions tax was increased to 35%. [21041/11]
Amharc ar fhreagraI am advised by the Revenue Commissioners that the estimated full year yield to the Exchequer from increasing the Capital Acquisitions Tax rate by 10%, could be in the region of €110 million in a full year. However, this estimate is based upon an assumption that there would be no behavioural impact of such an increase, which could lead to a less than expected result from a change to the tax rate. In addition, the realisation of any estimated yield from an increase in taxation on assets relating to property is subject to movements in the value of such assets, which are currently occurring in the economy.
