Results 9,261-9,280 of 27,019 for speaker:Michael Noonan

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Michael Noonan: I move amendment No. 90: In page 97, line 17, to delete “section 811C(6)” and substitute “paragraphs (a), (b) and (c) of section 811C(6)”.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Michael Noonan: I move amendment No. 91: In page 97, lines 32 to 37, to delete all words from and including “and” in line 32 down to and including line 37 and substitute the following:“and— (i) commences carrying out enquiries as if section 811C(6)(a) applied, a taxpayer who is aggrieved by such enquiries, on the grounds that the person considers that the officer was precludedfrom...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Michael Noonan: I move amendment No. 82: In page 86, line 29, after “establishment,” to insert the following:“or who, regardless of age, is permanently incapacitated by reason of physical or mental infirmity from maintaining himself or herself,”.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Michael Noonan: I move amendment No. 83: In page 87, to delete lines 37 to 41, and in page 88, to delete lines 1 to 9 and substitute the following:“(i) is the holder of any of the qualifications set out in Schedule 2, 2A or 2B to the Stamp Duties Consolidation Act 1999, or who achieves such a qualification within a period of 4 years commencing on the date of the gift or inheritance, and who for a...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Michael Noonan: I move amendment No. 85: In page 88, to delete lines 12 to 22 and substitute the following:“ “(4B) Where a donee, successor or lessee ceases to qualify as a farmer under subsection (1) within the period of 6 years commencing on the valuation date of the gift or inheritance, all or, as the case may be, part of the agricultural property shall for the purposes of subsection (2),...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Michael Noonan: It is small. I will check.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Michael Noonan: In 2010, 28 returns were filed. Three of them were for nil amounts. In 2011, 26 were filed and two were for nil amounts. In 2012, 20 were filed and four were for nil amounts. In 2013, 12 were filed and one was for a nil amount. There was an active compliance campaign. The number filed without compliance activity in 2010 was 11. After compliance activity, 17 more were filed; therefore,...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Michael Noonan: Not so.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Michael Noonan: This deals with inter-family transfers. The title on this is generally "consanguinity relief" - the closeness in blood. Therefore, it is not about companies or strangers. It is about inter-family transfers and about the State being willing, in certain circumstances and under certain conditions, to give certain tax breaks arising from the closeness of the relationship and the intention to...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Michael Noonan: I shall read the briefing note for the Deputy. Consanguinity relief under paragraph (5) Schedule 1 of the Stamp Duties Consolidation Act 1999 is available to an individual to whom land is conveyed or transferred by a close relative who personally farms the land or leases it to an individual who farms the land. The section does not specifically provide for the farming of land by companies....

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Michael Noonan: Yes, this section adds to the schedule of qualifications a qualifying farmer under this section will require.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Michael Noonan: I move amendment No. 81: In page 86, line 18, after “establishment,” to insert the following:“or who, regardless of age, is permanently incapacitated by reason of physical or mental infirmity from maintaining himself or herself,”.These amendments relate to section 73 of the Bill. That section amends section 82 of the Capital Acquisitions Tax Consolidation Act...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Michael Noonan: That would relate more to the consanguinity relief where the closeness of the relationship decides the additional benefit.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Michael Noonan: Not really. There are circumstances in which these reliefs could not be availed of by persons due to family circumstances. We are not disadvantaging them. Their current position continues. It is simply that they are not in a position to avail of the reliefs.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Michael Noonan: It does not apply to all families like the Deputy has described. If a person married late or everyone is gone away and the couple had a child later in life, where the 15 year old is in secondary school and the father is 70, he is not going to transfer it in the next 12 months. However, he is not being penalised in any way. It is simply the case that this particular relief does not suit his...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Michael Noonan: The Deputy can come back on Report Stage if he wishes but I can assure him that all these things have been discussed, run by and agreed with the farming organisations.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Michael Noonan: The Deputy can put down an amendment for discussion on Report Stage. We will swing through the sections on Report Stage unless we have an amendment to stop us. If an amendment is put down, we can discuss it.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Michael Noonan: I move amendment No. 74. In page 83, to delete lines 31 to 33 and substitute the following:“(4) For the purposes of this section the lessee shall, from the date on which the lease is executed, be a farmer who—(a) is the holder of or, within a period of 4 years from the date of the lease, will be the holder of, a qualification set out in Schedule 2, 2A or 2B to the Act, or (b)...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Michael Noonan: I move amendment No. 77: In page 83, line 34, to delete “5 years” and substitute “6 years”.

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2014: Committee Stage (Resumed) (19 Nov 2014)

Michael Noonan: I move amendment No. 78: In page 84, between lines 10 and 11, to insert the following:“(2) This section comes into operation on such day as the Minister for Finance may appoint by order.”.