Friday, 6 September 2019

Ceisteanna (102)

Anne Rabbitte

Ceist:

102. Deputy Anne Rabbitte asked the Minister for Finance the estimated cost of increasing the home carer’s tax credit by increments (details supplied) in tabular form. [35435/19]

Amharc ar fhreagra

Freagraí scríofa (Ceist ar Finance)

The cost of an increase to the Home Carer Tax credit of €50 is shown in Revenue’s Ready Reckoner available at https://www.revenue.ie/en/corporate/information-about-revenue/statistics/ready-reckoner/index.aspx. The current maximum value of the HCC is €1,500. The costs of increasing the credit as requested by the Deputy can be calculated on a straight-line basis and are set out in the following table:

Home Carer Credit – Maximum Value

First Year Cost of Increase €m

Full Year Cost of Increase €m

€1,600

6.6

7.6

€1,700

13.2

15.2

€1,800

19.8

22.8

€1,900

26.4

30.4

€2,000

33

38

€2,100

39.6

45.6

€2,200

46.2

53.2

€2,300

52.8

60.8

€2,400

59.4

68.4

€2,500

66

76

The above estimates have been generated by reference to 2020 incomes as calculated on the basis of actual data for the year 2017, the latest year for which returns are available, adjusted as necessary for income, self-employment and employment trends in the interim. The estimates are provisional and may be revised. They assume no behavioural change by taxpayers.