Dáil Éireann Debate, Tuesday - 26 September 2017
74. Deputy Michael McGrath asked the Minister for Finance the definition of an income tax case, for example, if it includes all persons in receipt of taxable income with regard to the Revenue Commissioners budget 2018 ready reckoner; and if he will make a statement on the matter. [40298/17]
Amharc ar fhreagraI am informed by Revenue that the relevant Income Tax and Universal Social Charge (USC) figures in the pre-budget 2018 Ready Reckoner include all cases registered with Revenue for self-assessment Income Tax or as PAYE employees (employees for this purpose includes those in receipt of occupational pensions).
The income data published in the Ready Reckoner relates to gross income. The definition generally used for gross income is that it is considered the income before adjustments are made in respect of capital allowances, losses, allowable expenses, retirement annuities etc., but after deduction of superannuation contributions by employees. It also includes certain income belonging to individuals whose total income is below the exemption limits. Certain social welfare incomes will also be included in some cases. Therefore the gross income data presented in the Ready Reckoner includes both tax cases with taxable income and tax cases that are exempt from tax and/or USC.
The data presented in the Ready Reckoner is presented in terms of tax units. A tax unit may consist of a singly assessed individual; married persons / civil partners who have elected or who have been deemed to have elected for joint assessment that would then be treated as one tax unit; or married persons/civil partners who elect to be separately assessed.
The publication of the Ready Reckoner, as well as the increased information contained therein in recent years across the full range of taxes, represents an important contribution by Revenue to using the data available to them to inform policy makers and support research work. I am advised by Revenue that they are seeking to ensure the Ready Reckoner is as relevant as possible to the demands of users and are open to feedback from the Deputy or from any other interested parties.
