Written Answers Nos. 61-67
61. Deputy Pearse Doherty asked the Minister for Finance the amount of revenue raised per quarter in 2013 from the mansion tax of 0.25 per cent on the value of homes in excess of €1m as announced in Budget 2013. [39885/13]
Amharc ar fhreagraFor residential properties valued at over €1m, the Local Property Tax (LPT) payable is 0.18% on the first €1m in value and 0.25% on the portion of the value above €1m. LPT was introduced with effect from 1 July 2013 and it is an annual charge rather than a quarterly charge. I am advised by the Revenue Commissioners that they have published preliminary global data on LPT. Work is on-going to refine the LPT Register, and more detailed and up to date information will be published in due course. The Deputy may recall that during her appearance before the Oireachtas Committee on Finance, Public Expenditure and Reform on 29 May 2013, the Chairman of the Revenue Commissioners advised that, based on LPT Returns filed at that time, there were 3,599 residential properties valued by their owners at over €1m.
62. Deputy Pearse Doherty asked the Minister for Finance the amount of revenue raised per quarter in 2013 from extending USC to over 70s with large pensions over €60k as announced in Budget 2013. [39886/13]
Amharc ar fhreagraThe change I announced in the 2013 Budget to apply the standard rates of USC to those aged 70 years of age or over and medical card holders earning €60,000 and above was estimated to yield €25 million in 2013. However, I am informed by the Revenue Commissioners that figures of USC receipts are not captured in such a manner as would enable the impact of this change to be separately identified.
63. Deputy Pearse Doherty asked the Minister for Finance the amount of revenue raised per quarter in 2013 by ending top slicing relief on lump sums and severance payments over €200k as announced in Budget 2013. [39887/13]
Amharc ar fhreagraThe budget change referred to in the question was estimated to yield €10 million in a full year but no yield was expected in 2013. I am informed by the Revenue Commissioners that figures of income tax receipts are not captured in such a manner as would enable the impact of this change to be separately identified going forward.
64. Deputy Pearse Doherty asked the Minister for Finance if he intends to extend Film Relief but take individual investors out of the relief scheme from 2016 as outlined in Budget 2013. [39889/13]
Amharc ar fhreagraAs the Deputy rightly points out, in Budget 2013 I announced a number of changes to the existing scheme for film relief which was contained in Section 481 of the Consolidated Taxes Act 1997. The legal provisions required to enact those changes were contained in Finance Act 2013. Those changes will take effect from 1 January 2016. The changes to Section 481, which were enacted in response to a comprehensive cost benefit analysis by my Department, will mean that the tax benefits will, from 2016 onwards, accrue to the film producers rather than individual investors as has been the case. This type of arrangement is regarded as an international standard and is used in many jurisdictions.
The new arrangements are also expected to result in savings for the Exchequer.
The operation of the film relief scheme is kept under regular review by my Department in conjunction with the Department of the Arts, Heritage and the Gaeltacht.
65. Deputy Pearse Doherty asked the Minister for Finance the amount of revenue raised per quarter in 2013 from the 3% increase in capital gains tax introduced in Budget 2013. [39890/13]
Amharc ar fhreagraThe budget change referred to in the question was estimated to yield €50 million in 2013. However, I am informed by the Revenue Commissioners that figures of capital gains tax receipts are not captured in such a manner as would enable the impact of this change to be separately identified. It may be noted that as this change applied to disposals made after 5 December, 2012 the bulk of capital gains tax receipts affected by the change are not due for payment until 15 December, 2013.
66. Deputy Pearse Doherty asked the Minister for Finance the amount of revenue raised per quarter in 2013 from the 3% increase capital acquisitions on gifts and inheritances introduced in Budget 2013. [39891/13]
Amharc ar fhreagraThe budget change referred to in the question was estimated to yield €20 million in 2013. However, I am informed by the Revenue Commissioners that figures for capital acquisitions tax receipts are not captured in such a manner as would enable the impact of this change to be separately identified. It may be noted that as this change applies to gifts or inheritances taken after 05 December 2012 the bulk of capital acquisitions tax receipts affected by the change are not due for payment until 31 October 2013, or 14 November 2013 where returns and payment are made through Revenue On-Line System.
67. Deputy Pearse Doherty asked the Minister for Finance the amount of revenue raised per quarter in 2013 from the reduction of group tax free thresholds for gifts and inheritances introduced in Budget 2013. [39892/13]
Amharc ar fhreagraThe budget change referred to in the question was estimated to yield €10 million in 2013. However, I am informed by the Revenue Commissioners that figures of capital acquisitions tax receipts are not captured in such a manner as would enable the impact of this change to be separately identified. It may be noted that as this change applies to gifts or inheritances taken after 05 December 2012 the bulk of capital acquisitions tax receipts affected by the change are not due for payment until 31 October 2013, or 14 November 2013 where returns and payment are made through Revenue On-Line System.
