Dáil Éireann - Volume 295 - 08 December, 1976 - Ceisteanna—Questions. Oral Answers.


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Dáil Éireann - Volume 295 - 08 December, 1976

Ceisteanna—Questions. Oral Answers. - Tax Receipts.

Mr. O'Malley Mr. O'Malley

14. Mr. O'Malley asked the Minister for Finance the total amount of tax actually collected to date under each of the following headings and the date in each case when such tax first came into force: (a) wealth tax (b) capital gains tax (c) gift tax (d) inheritance tax and (e) income tax on farming profits of full time bona fide farmers.

Mr. R. Ryan Mr. R. Ryan

Mr. R. Ryan: As the reply is in the form of a tabular statement, I propose with the permission of the Ceann Comhairle, to have it circulated with the Official Report.

Following is the statement:

(1)	(2)	(3)
Head of Revenue	Date of coming into force	Approximate Net Receipt to 19 November 1976.
		£m
(a) Wealth tax	5th April, 1975	10.1
(b) Capital gains tax	6th April, 1974	0.4
(c) Gift tax	28th Feb- ruary, 1974	.009
217 [217](d) Inheritance tax	1st April, 1975	0.4
(e) Income tax on farming profits of full- time bona fide farmers	6th April, 1974	1.6*

NOTES: * Income tax on farming profits is collected with Schedule D tax generally and accordingly is not distinguishable. The amount shown under heading (e) is an estimate of the receipt up to 31st December, 1976. The ultimate yield from the assessments for 1974-75 and 1975-76 will be about £2 million.

Dáil Éireann 295 Ceisteanna—Questions. Oral Answers. Tax Receipts.

Questions

19761208