Dáil Éireann Debate, Tuesday - 3 October 2017
100. Deputy Michael Healy-Rae asked the Minister for Finance if the earned income tax credit will be increased to the same level as the PAYE credit; and if he will make a statement on the matter. [41822/17]
Amharc ar fhreagraThe Earned Income Credit was introduced in Budget 2016 and then increased in Budget 2017. The tax credit is available to taxpayers with active self-employed trading or professional income and to business owners or managers who do not have access to the PAYE credit on employment income from their business. The credit provides a significant benefit to small business-owners right across the country including small retailers, publicans, farmers and tradesmen. It is estimated that approximately 147,500 income earners are currently in a position to benefit from the credit.
In Budget 2017, the Earned Income Credit was increased in value from €550 to €950.
I am considering a range of matters in the run up to Budget 2018, including the position regarding the Earned Income Credit. As is customary, however, no specific decisions will be announced in advance of Budget day.
