Results 31,621-31,640 of 36,189 for speaker:Pearse Doherty
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Pearse Doherty: I would not pay PRSI on that income.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Pearse Doherty: One does not pay PRSI on pensions?
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Pearse Doherty: I would pay USC which would mean that I would pay a total of 48% on the amount.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Pearse Doherty: Okay. One could pay between 48% and 51%. If, say, Johnny is due to retire next year, he would be pay between 48% and 51% on the amount drawn down and the Minister is facilitating him to dip into 30% of his AVC fund but only to pay 41% on the amount drawn down.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Pearse Doherty: That is incentivising people. We may have a debate about how marginal it is but it is not a case of equal in, equal out. If I was to retire next year and I had an AVC, it would be in my interest to withdraw 30% out now because I would be exempt from the USC on that amount.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Pearse Doherty: Is there a danger that someone who is not aware of the debate on the Finance Bill will end up in the same situation? In three years time will they state the Government increased them dramatically?
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Pearse Doherty: As stated, I appreciate the shock delivered to the system in 2011. However, it would not be prudent to leave this in its current form. There was sense to what happened in 2011 in the context of having a minimum retirement fund of €18,000, not €12,700. The absence of a sunset clause calls this into question. The Minister has reverted to the original pre-2011 figures. Why...
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Pearse Doherty: In reducing the limits on the AMRF, approved minimum retirement fund, the Minister is forcing the amount currently in the fund into an ARF. Is that the case?
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Pearse Doherty: I have an example. The existing minimum amount is €119,000. If that is being reduced, €56,000 will be pushed into an ARF and then become laible to income tax. It means a person will be obliged to draw down a certain amount. These figures were increased in last year's Finance Bill. It means his or her tax liability will be increased as a result, but his or her minimum...
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Pearse Doherty: I appreciate and understand the rationale. It is not an area in which I am an expert. I am, however, concerned about this move. The AMRF takes into account the State pension which is approximately €12,000 a year. The new limit is about €12,700, a tiny amount of money. One would only need a very small additional sum to have the rest of one's money forced into an ARF which is...
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Pearse Doherty: Does this amendment contain a sunset clause?
- Other Questions: Garda Deployment (6 Mar 2013)
Pearse Doherty: To ask the Minister for Justice and Equality the number of Garda personnel whose specific role is the detection of crime, on a district basis for the years 2005, 2006, 2007, 2008, 2009, 2010, 2011 and 2012. [11571/13]
- Other Questions: Garda Deployment (6 Mar 2013)
Pearse Doherty: To ask the Minister for Justice and Equality the number of dedicated drug units operational in An Garda Síochána on a division by division basis for the years 2005, 2006, 2007, 2008 ,2009, 2010, 2011 and 2012. [11572/13]
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Pearse Doherty: I will propose the amendment if the Minister will read the briefing note.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Pearse Doherty: I understand what the Minister said in terms of the shock to individuals because of the drastic increase. The effect of this amendment will also be of benefit to the Exchequer because by pushing more money into ARFs it becomes applicable to the imputed distribution charge. This means those affected must pay tax on a certain proportion of it and therefore it will be of benefit to the Revenue...
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Pearse Doherty: I want to make a general point, but do not oppose the provision being made in this Bill. I appreciate there is a limited number of staff working on taxation measures and that there is pressure on them in terms of the Finance Bill. We got a very good briefing on the Bill earlier and I thank the officials for that. The Finance Bill is the Minister's own legislation and the majority of the...
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Pearse Doherty: Yes.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Pearse Doherty: I want to focus on the preferential loans from companies to employees which the Minister said will affect the market rates. In the first case we are replacing 4% with 5%, therefore the preferential loans from companies to employees are set at 5%. This Finance Bill will reduce the rate to 4% to reflect the norm in the markets. However, the markets are completely different and are going in...
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Pearse Doherty: I am not concerned about the rate that is falling or the rate that is increasing from 12.5% to 13.5% because that is the direction in which banks are going but in respect of the mortgage rate, that is falling from 5% to 4%, which is completely out of kilter with the trend of where mortgage rates are going this year, or the projected trend and where they have been for the past six months....
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Pearse Doherty: Yes. I do not know if the Minister disputes the findings of the credit union survey we cite quite often, which showed that 1.6 million people have less than €50 at the end of the month after essential bills are paid. If such people could access the €750 we are talking about, they would have an additional €50 at the end of many months. The question is whether the...