Tax Code

Dáil Éireann Debate, Tuesday - 28 July 2020

Tuesday, 28 July 2020

Ceisteanna (260, 266)

Pearse Doherty

Ceist:

260. Deputy Pearse Doherty asked the Minister for Finance the estimated full-year revenue in 2021 that would be raised by increasing the rate of capital acquisitions tax by 3% to a rate of 36%.. [18771/20]

Pearse Doherty

Ceist:

266. Deputy Pearse Doherty asked the Minister for Finance the estimated full-year revenue in 2021 that would be raised by reducing the group A tax free threshold, referring to capital acquisitions tax, from €335,000 to €320,000, €310,000, €300,000, €280,000 and €250,000, respectively. [18779/20]

Freagraí scríofa

Deputy Paschal Donohoe

I propose to take Questions Nos. 260 and 266 together.

I am advised by Revenue that the costs of various changes to Capital Acquisition Tax (CAT) thresholds and rates are published on pages 15-16 of the Revenue Ready Reckoner available at link https://www.revenue.ie/en/corporate/documents/statistics/ready-reckoner.pdf. While not all of the changes proposed by the Deputy are included, these can be extrapolated on a straight line or pro-rata basis from those shown. I am advised that in the case of relatively large changes to rates or thresholds, the estimated cost or yield shown should be considered as more provisional in nature.