Wednesday, 26 January 1994
Dáil Éireann Debate
Minister for Finance (Mr. B. Ahern): The only relevant information available  as to cost is in relation to the direct cost to the Exchequer in income tax forgone if the changes referred to in the question were enacted for the income tax year 1994-95. The estimated costs of increasing the exemption limits by £100 are set out in the following table.
|Increase of £100 in each of:||Estimated 1994 Cost||Estimated Full Year Cost|
|(i) General exemption limits||3.5||7.0|
|(ii) Age exemption limits:
65 years or over
75 years or over
|(iii) Child exemption in respect of (i) and (ii)||2.8||5.7|
It is assumed that the suggested increases to the exemptions for single persons must be combined with double those increases in the exemptions for married persons assessed to tax on the aggregate basis.
|Last Updated: 22/05/2011 04:50:34||Page of 404|