Results 22,561-22,580 of 35,959 for speaker:Pearse Doherty
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2015: Committee Stage (17 Nov 2015)
Pearse Doherty: Will the Minister respond to my other questions in regard to the cost benefit analysis of the relief, how many employees were hired as a result of the introduction of the relief, the businesses that received the tax relief and what level of tax relief was afforded in the last year in respect of which figures are available?
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2015: Committee Stage (17 Nov 2015)
Pearse Doherty: I am seeing the figures for 2014 for the first time. Some 1,395 investors have invested in 239 companies, assuming that none of them invested in individual companies or a single individual invested individually in a company, we can say that at a minimum each one of the 239 companies had on average six investors availing of this scheme. Obviously some companies would have had one investor...
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2015: Committee Stage (17 Nov 2015)
Pearse Doherty: Okay. Has the holding period been reduced?
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2015: Committee Stage (17 Nov 2015)
Pearse Doherty: Is it still three years?
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2015: Committee Stage (17 Nov 2015)
Pearse Doherty: So there has been no change to the holding period and it is still four years. In 2014, the last year for which we have data, the number of investors are six times the number of companies in which there was employment incentive investment. Does the Minister have details on the level of individual investors who invested in these companies? As I said, on average it is about six investors...
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2015: Committee Stage (17 Nov 2015)
Pearse Doherty: Is there any concern across the 239 companies that on average six investors invested in these individual companies? Is it a case that the companies advertise the EII scheme as a tax reduction scheme for investors? Is that the way the scheme was intended to work?
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2015: Committee Stage (17 Nov 2015)
Pearse Doherty: Obviously the relief is to the individual, who, as the Minister has said, must be approved by Revenue. The Minister mentioned that the fund rather than the individual makes the investment; will he explain that to me?
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2015: Committee Stage (17 Nov 2015)
Pearse Doherty: Is it the case that these investors do not know much about the business?
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2015: Committee Stage (17 Nov 2015)
Pearse Doherty: We will leave it at that. How does the Minister justify broadening the relief to nursing homes, when running nursing homes is a profitable business?
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2015: Committee Stage (17 Nov 2015)
Pearse Doherty: Is this a type of property tax relief?
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2015: Committee Stage (17 Nov 2015)
Pearse Doherty: Is it a tax relief to build an extension to the nursing home, or is it a tax relief for the actual business of running a nursing home?
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2015: Committee Stage (17 Nov 2015)
Pearse Doherty: Let me clarify, this is to encourage the nursing home to build an extension to the property. I know that property tax relief is a dirty phrase in the Chamber.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2015: Committee Stage (17 Nov 2015)
Pearse Doherty: Will it apply to private nursing homes and not public nursing homes?
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2015: Committee Stage (17 Nov 2015)
Pearse Doherty: Is the relief only for the extension of facilities to the existing nursing home? Could a company with a nursing home operational in County Donegal for example or in anywhere else which wanted to build a second nursing home avail of this tax relief scheme?
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2015: Committee Stage (17 Nov 2015)
Pearse Doherty: Very good. It seems very narrow. If there is a shortage of nursing homes I am not sure why the relief would not be available if a company wants to build a nursing home down the road, particularly if it is justified for extensions. The Minister for Health was mentioned. Have there been specific cases that have raised the need for this type of relief to allow the extension of nursing homes?...
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2015: Committee Stage (17 Nov 2015)
Pearse Doherty: Is that report published or available?
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2015: Committee Stage (17 Nov 2015)
Pearse Doherty: Given that we are asked to authorise the amendment to extend this nursing home tax relief that came out of the report, it should be made available to us.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2015: Committee Stage (17 Nov 2015)
Pearse Doherty: This section is going in the right direction but why did the Government not move to where the all-party report, which the Government parties signed up to in May 2012, was with regard to the taxation of offshore oil and gas? Why was this section not more reflective of the views within that report?
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2015: Committee Stage (17 Nov 2015)
Pearse Doherty: We might come back to some of this on Report Stage. In regard to the date specified in this section, which is 18 June 2014, will the Minister explain the significance of that date and why it was chosen?
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2015: Committee Stage (17 Nov 2015)
Pearse Doherty: Is there anything to prevent the Minister from altering that date? Obviously, there is nothing to prevent its being taken closer to today's date, but what about pushing it back prior to the publication of the Wood Mackenzie report and the Government statement?