Based on Revenue’s latest Ready Reckoner (Post-Budget 2023), the estimated costs on a first and full year basis of an increase in the value of the tax credit as mentioned by the Deputy are set out in the table below:
Measure
|
Adjustment
|
First Year Cost
|
Full Year Cost
|
Incapacitated Child Tax Credit
|
An increase of €200 from €3,300 to €3,500
|
€5.6m
|
€6.4m
|
I would draw the Deputy's attention to the fact that the post-Budget 2023 Ready Reckoner is available on the Revenue Statistics webpage at:
www.revenue.ie/en/corporate/documents/statistics/ready-reckoner.pdf.
Amounts other than those shown in the Ready Reckoner can generally be extrapolated using a straight line or pro-rata calculation.