Thursday, 12 December 2019

Ceisteanna (64, 65, 66, 67, 68, 69)

Peter Burke

Ceist:

64. Deputy Peter Burke asked the Minister for Finance the estimated cost of introducing a new rate of capital acquisitions tax of 20% on the first €100,000 over the existing group A threshold in order that the first €335,000 is exempt, the next €100,000 is charged at 20% and then a further increase is at the existing 33% rate. [52510/19]

Amharc ar fhreagra

Peter Burke

Ceist:

65. Deputy Peter Burke asked the Minister for Finance the estimated cost of introducing a new rate of capital acquisitions tax of 20% on the first €200,000 over the existing group A threshold in order that the first €335,000 is exempt, the next €200,000 is charged at 20% and then a further increase is at the existing 33% rate. [52511/19]

Amharc ar fhreagra

Peter Burke

Ceist:

66. Deputy Peter Burke asked the Minister for Finance the estimated cost of introducing a new rate of capital acquisitions tax of 20% on the first €300,000 over the existing group A threshold in order that the first €335,000 is exempt, the next €300,000 is charged at 20% and then a further increase is at the existing 33% rate. [52512/19]

Amharc ar fhreagra

Peter Burke

Ceist:

67. Deputy Peter Burke asked the Minister for Finance the estimated cost of introducing a new rate of capital acquisitions tax of 20% on the first €400,000 over the existing group A threshold in order that the first €335,000 is exempt, the next €400,000 is charged at 20% and then a further increase is at the existing 33% rate. [52513/19]

Amharc ar fhreagra

Peter Burke

Ceist:

68. Deputy Peter Burke asked the Minister for Finance the estimated cost of introducing a new rate of capital acquisitions tax of 20% on the first €50,000 over the existing group A threshold in order that the first €335,000 is exempt, the next €50,000 is charged at 20% and then a further increase is at the existing 33% rate. [52514/19]

Amharc ar fhreagra

Peter Burke

Ceist:

69. Deputy Peter Burke asked the Minister for Finance the estimated cost of introducing a new rate of capital acquisitions tax of 20% on the first €150,000 over the existing group A threshold in order that the first €335,000 is exempt, the next €150,000 is charged at 20% and then a further increase is at the existing 33% rate. [52515/19]

Amharc ar fhreagra

Freagraí scríofa (Ceist ar Finance)

I propose to take Questions Nos. 64 to 69, inclusive, together.

I am advised by Revenue that the estimated full year cost of reducing the current Capital Acquisitions Tax (CAT) rate of 33% to 20% on specified amounts over the current Group A threshold amount of €335,000 is shown in the following table.

Specified Amount

€50,000

€100,000

€150,000

€200,000

€300,000

€400,000

Annual Cost

€12.5m

€21.2m

€27.6m

€32.9m

€40.5m

€45.7m

The Deputy may also wish to note that the estimated cost of other changes relating to CAT are published in the Revenue Ready Reckoner at link;

https://www.revenue.ie/en/corporate/information-about-revenue/statistics/ready-reckoner/index.aspx.