Gerald Nash
Ceist:332. Deputy Ged Nash asked the Minister for Finance the estimated yield to the Exchequer from reducing pension relief to the standard rate in 2022; and if he will make a statement on the matter. [39881/21]
Amharc ar fhreagraTuesday, 27 July 2021
Ceisteanna (332)
Freagraí scríofa
I am advised by Revenue that their most recent ‘Ready Reckoner’, which is available at: www.revenue.ie/en/corporate/documents/statistics/ready-reckoner.pdf, shows on page 10, the estimated yield from reducing the maximum tax relief available on pension contributions to the standard rate.
Based on these estimates, reducing pension relief to the standard rate of 20% and maintaining the current total earnings limit (i.e. the maximum amount of earnings that can be taking into account for the purposes of calculating tax relief) of €115,000 per year, the yield would be €423 million.