Results 24,201-24,220 of 24,635 for speaker:Mary Harney
- FINANCIAL RESOLUTION No. 14: INCOME LEVY (7 Dec 2010)
Mary Harney: We are taking income tax, or take-home pay, back to where it was in 2006. With regard to the questions raised by Deputy Burton, it applies to all income other than income of less than â¬4,000. It does not include welfare income.
- FINANCIAL RESOLUTION No. 14: INCOME LEVY (7 Dec 2010)
Mary Harney: Any income less than â¬4,004 is excluded but all income over â¬4,004 is included. This is applied at 2% up to â¬10,000, at 4% between â¬10,000 and â¬16,000 and at 7% above that.
- FINANCIAL RESOLUTION No. 14: INCOME LEVY (7 Dec 2010)
Mary Harney: No, I mentioned in my opening comments that if somebody on a salary of â¬26,000-----
- FINANCIAL RESOLUTION No. 14: INCOME LEVY (7 Dec 2010)
Mary Harney: The health levy only applied to salaries over â¬26,000 and the income levy applied to salaries over â¬15,000. The minimum wage will still be excluded from tax but will be included in this charge.
- FINANCIAL RESOLUTION No. 14: INCOME LEVY (7 Dec 2010)
Mary Harney: Yes, that is correct.
- FINANCIAL RESOLUTION No. 14: INCOME LEVY (7 Dec 2010)
Mary Harney: I will explain. The health levy is going and approximately â¬2 billion from the health levy will go into the health service.
- FINANCIAL RESOLUTION No. 14: INCOME LEVY (7 Dec 2010)
Mary Harney: The health levy goes to fund the public health system, a total of approximately â¬2.1 billion in 2010 with a shortfall of â¬400 million because of the level of unemployment. We recently moved a Supplementary Estimate to provide for this. Instead of this being an appropriation-in-aid from the Revenue and the Department of Social Protection, it will go into the central Exchequer and will be...
- FINANCIAL RESOLUTION No. 14: INCOME LEVY (7 Dec 2010)
Mary Harney: The medical card exemption does not apply for anyone.
- FINANCIAL RESOLUTION No. 14: INCOME LEVY (7 Dec 2010)
Mary Harney: The medical card should be for medical needs and it has become a passport for school transport and many other things. We need to decouple it. One of the reforms being examined is to have a higher element of medical need attached to the medical card rather than the pure income which is not always fair.
- FINANCIAL RESOLUTION No. 14: INCOME LEVY (7 Dec 2010)
Mary Harney: Deputy Naughten referred to Members' and Ministers' pensions being hit by 4% but the figure is 12%. Pensions at our level will be hit by a 12% reduction. When the Minister referred to 4% he was referring to an average of 4% but we will be subject to a reduction of 12% in pensions. All credits are being reduced by 10%. Payments to haemophiliacs, hepatitis C victims and thalidomide victims...
- FINANCIAL RESOLUTION No. 14: INCOME LEVY (7 Dec 2010)
Mary Harney: The new minimum wage will be â¬15,000 and it will be outside the tax net.
- FINANCIAL RESOLUTION No. 14: INCOME LEVY (7 Dec 2010)
Mary Harney: The charge will apply but I said the income tax will not apply.
- FINANCIAL RESOLUTION No. 14: INCOME LEVY (7 Dec 2010)
Mary Harney: The income levy applied to it previously.
- FINANCIAL RESOLUTION No. 14: INCOME LEVY (7 Dec 2010)
Mary Harney: I take the Deputy's point.
- FINANCIAL RESOLUTION No. 14: INCOME LEVY (7 Dec 2010)
Mary Harney: I move the following financial resolutions.
- Financial Resolution No. 18: Capital Acquisitions Tax (7 Dec 2010)
Mary Harney: Financial Resolution No. 18 relates to capital acquisitions tax. This modifies group (a), (b) and (c) tax-free thresholds by 20%. These group thresholds depend on the relationship of the person making the gift or inheritance to the beneficiary of that gift or inheritance. The current thresholds are â¬414,799 for group A, and this will be reduced to â¬332,084; group B is reduced from...
- Financial Resolution No. 18: Capital Acquisitions Tax (7 Dec 2010)
Mary Harney: The Commission on Taxation recommended that we substantially lower the rate of stamp duty but broaden its base and the Minister clearly took that on board in his budgetary decision to make the rate 1% or 2%. I am trying to remember what the previous higher rate applied to; I believe it was â¬655,000. The first â¬125,000 had a zero rate, the next â¬875,000 was at 7% and for a price higher...
- Financial Resolution No. 18: Capital Acquisitions Tax (7 Dec 2010)
Mary Harney: We dealt with that before. They are being reduced by 10% and 25%, namely, 10% on credits and 25% otherwise. The same reduction of 25% applies to DIRT.
- Financial Resolution No. 18: Capital Acquisitions Tax (7 Dec 2010)
Mary Harney: I will have to take advice on that because I understand the officials, too, must reflect on it.
- Financial Resolution No. 18: Capital Acquisitions Tax (7 Dec 2010)
Mary Harney: Off the top of my head, if we are talking about everybody being equal, I would imagine it does, once one takes off the discount on the amount one actually pays. The officials will clarify that for me. With regard to the exemption from DIRT, the annual exemption limit is currently â¬20,000 in the case of a single person and â¬40,000 in the case of a married couple. That has now been...