Results 17,561-17,580 of 27,019 for speaker:Michael Noonan
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Michael Noonan: I move amendment No. 12: In page 17, line 10, after "employee" to insert the following:"who holds or has held an office or employment the profits or gains of which are or were chargeable to tax under Schedule E or under Case III of Schedule D".
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Michael Noonan: Section 12 makes a number of changes in the application of the benefit-in-kind rules. For the removal of doubt, the amendment to section 116 of the Taxes Consolidation Act 1997, which is an interpretation section, clarifies that the benefit-in-kind provisions apply to officeholders as well as to employees. The amendment to section 118 of the 1997 Act updates the legislative references...
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Michael Noonan: It is a very interesting debate, but it is amazing that such a lengthy debate can be built on €50, and all of these issues are arising from an increase of €50 in the one year. I know that Deputy Donnelly has a distinguished background in consulting but I was reasonably good at mental arithmetic when I was in primary school. It is €50 the first year, another €50...
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Michael Noonan: I do not know how the Deputy is arriving at that figure.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Michael Noonan: Deputy Boyd Barrett said I should stay within the terms of the section.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Michael Noonan: The Department of Education and Skills is not raising its disregard for a fourth year. They are taking the fees up to €3,000. For example, one can take the case of a person who is studying medicine and one can add on numbers for the extra years. It is a rather small imposition. I will address the tax breaks on private education. The disregard is the same across the sector. The...
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Michael Noonan: The Deputy sees the bad side of everything.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Michael Noonan: The Deputy loves misery.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Michael Noonan: What is being proposed by the Deputy's side of the House is to introduce tax relief at the standard rate on the additional disregard which is applied by the Department of Education and Skills. What we are talking about is the tax relief.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Michael Noonan: I will have to get a note for Deputy McGrath on that point. It is €5,000 less the disregard. The disregard is universal.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Michael Noonan: We will move to Deputy Donnelly's position, in which case the sum of €50 this year is not the issue, it is the payment of €50 this year, €50 next year and €50 the year after. Deputy Donnelly's position is that, over the coming three years, there will be an extra cost of €150 to a family and that it will prevent people from going to college. I do not accept...
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Michael Noonan: It is €50 per year and we are simply following the increases that have been made on the student contribution by the Minister for Education and Skills and saying the disregard will be level with the student contribution. I think that is reasonable.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Michael Noonan: The sum of €150 for families ineligible for grants, spread over three years, does not affect the behaviour of families in terms of whether they send one of their children to college or not. This is particularly true when the full tax claim on the student contribution is available to families sending the second or third child to college.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Michael Noonan: The relief applied to subsequent siblings is at the standard rate.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Michael Noonan: With one, it is the standard rate of tax.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Michael Noonan: Yes.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Michael Noonan: That is the position.
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Michael Noonan: Deputy Donnelly was the first to talk about the financial pressure on higher education institutions and universities. The purpose of the decision by the Minister for Education and Skills was to provide extra funds to the third level sector because the student contribution is paid on registration to the institution that the student will attend. It would be an unnecessary circular movement if...
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Michael Noonan: The increase proposed by the Minister for Education and Skills is from €2,500 to €2,750. The policy must be to disregard the €2,500 last year and to disregard what existed the year before. His proposed increase is €250 and I am being asked now not to disregard the increase but to allow it to be claimed against income tax. The increase is €250 and it...
- Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Finance Bill 2013: Committee Stage (6 Mar 2013)
Michael Noonan: It runs to 2015.